Webinar
Value of Reduced Benefit Options in Long-Term Care Insurance Rate Increases
June 10, 2022 | Noon to 1 p.m. EDT | USQS CE Available
Slides and audio are now available. To view them, log in to your Academy member account.
ABOUT THIS WEBINAR
Increased magnitude and volume of long-term care insurance (LTCI) rate increases have increased prevalence of reduced benefit options (RBOs) and focus on value of these RBOs. There is a wide range of approaches that can be used to assess the value of RBOs and the reasonableness of premiums for these RBOs. Viewpoints differ as to whether the relative value of RBOs should be evaluated based upon premiums and expected claims on a prospective-only basis or whether they should include a credit for premiums paid prior to a rate increase. Various considerations can cause RBOs and premiums to vary by block/insurer. As a result, no single answer emerges on the determination of actuarial equivalence, and the focus is on a spectrum of reasonable value for these options.
During this webinar, our presenters will provide a framework through which regulators, insurers, and other interested parties, may think about the relationship of benefits to premiums for insureds facing a LTCI premium rate increase, including those who accept a rate increase and those who do not.
Attendees will gain a better understanding of:
- The situation leading to questions regarding LTCI RBO values;
- Issues surrounding the determination of RBO values; and
- Different perspectives on how RBO values can be determined.
Speakers will also touch upon the recently released public policy issue brief, Value of Reduced Benefit Options in Long-Term Care Insurance Rate Increases.
SPEAKERS
- Raymond Nelson, MAAA, ASA
Member, Long-Term Care Actuarial Equivalence Work Group
- Rhonda Ahrens, MAAA, FSA
Member, Long-Term Care Actuarial Equivalence Work Group
- Robert Darnell, MAAA, ASA
Member, Long-Term Care Actuarial Equivalence Work Group
MODERATOR
- Gregory Gurlik, MAAA, FSA
Chairperson, Long-Term Care Actuarial Equivalence Work Group
CONTINUING EDUCATION
The American Academy of Actuaries believes in good faith that attendance at this live webinar constitutes an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States, and that attendees may earn up to 1.2 CE credits for attending this live webinar.
GROUP REGISTRATION POLICY
While many people are working remotely, the Academy is offering group registrations to employers of our members. Please read our group registration policy carefully.
The lead registrant must be an Academy member. You will receive one computer connection (link) to the webinar that will allow you to broadcast the live event to your remote attendees, who must be members of the same company, using a platform (Zoom, WebEx etc.) of your company’s choosing. Audio is streamed via the web.
Within one business day of the webinar, the lead registrant is responsible for submitting a list of attendees, using this template created for the event, to webinargroups@actuary.org. Failure to submit this list will result in no longer being able to register your group for future webinars.
* The Academy does not take responsibility for ensuring the live webinar can be seen and heard through the registrant’s broadcasting platform. Group registration fees for the live webinar do not include access to the archive recording, except for Academy members who may access an archive of all Academy webinars in the members-only section of the Academy’s website.
QUESTIONS: For information about this webinar, contact Gwen Pegram at webinarhelp@actuary.org.
