FOR IMMEDIATE RELEASE

NAIC Holds Long-Term Care Hearing
Subgroup discusses ideas and suggestions for improving long-term care insurance market

SAN DIEGO (Aug. 25, 2016) —The National Association of Insurance Commissioners (NAIC) today held a public hearing to examine the future of private solutions to long-term care financing.

The Long Term Care Innovation (B) Subgroup held the hearing during the NAIC's Summer 2016 National Meeting. Presenters from state insurance departments, consumer groups and insurance industry professionals covered topics ranging from innovation, affordability and availability as well as consumer education.

"The future of long-term care insurance is uncertain as there are many challenges facing the long-term care insurance market," said Teresa D. Miller, Pennsylvania Insurance Commissioner and chair of the Long Term Care Innovation (B) Subgroup. "The purpose of our group is to address these challenges by hearing a variety of ideas and suggestions to develop actionable, realistic policy options for consideration by the NAIC, individual states and Congress."

The subgroup is examining potential product modifications, reductions of regulatory barriers and appropriate incentive to strengthen the insurance market.

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.

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