6988576, 69O-157.002 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 6988576

Notice of Meeting/Workshop Hearing

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

LONG-TERM CARE INSURANCE

Overview

RULE:

69O-157.002	Applicability and Scope
69O-157.003	Definition of Terms
69O-157.004	Out-of-State Group Long-Term Care Insurance

The Financial Services Commission, Office of Insurance Regulation announces a hearing to which all persons are invited.

DATE AND TIME:

PLACE:

Subject:

This is the Final Public Hearing on the adoption of proposed amendments to Rules 69O-157.302, 69O-157.303, 69O-157.304, Florida Administrative Code, published on October 24, 2008 in Vol. 34, No. 43, of the Florida Administrative Weekly.

THE FULL TEXT OF THE PROPOSED RULE IS:
69O-157.302 Facility Only Rates.
(1) The footnote following Section 627.9407, F.S., states that Section 11, Ch. 2006-254, L.O.F., provides that “[t]his act shall apply to long-term care insurance policies issued or renewed on or after July 1, 2006. For any long-term care insurance policy issued prior to July 1, 2006, the provisions of [Section 627.94076, F.S.] shall apply to such policy only upon renewal of such policy on or after July 1, 2008, and the policy shall so provide by endorsement to the policy.”
(2) The following maximum new business rates are effective for 20096 rate increase filings and for 201007 rate filings until new rates are published: These annual rates are appropriate for: 
(a) Tax qualified policies;
(b) A benefit of $100/day;
(c) An elimination period of 90 days.
(d) Policies offering Restoration of Benefits, and
(e) Sales in Hillsborough County
(3)(a) Facility Only Rates: 
 Issue Age	3-Yr Benefit 
 Period	  5-Yr.
 Benefit
 Period	 Unlimited
  Benefit
  Period
30	$284.03	$350.92	$459.40
31	$287.49	$356.69	$468.20
32	$291.06	$362.46	$477.10
33	$294.63	$368.43	$486.30
34	$298.31	$374.41	$495.60
35	$301.98	$380.48	$505.10
36	$305.97	$386.97	$514.70
37	$310.07	$393.46	$524.50
38	$314.16	$400.05	$534.50
39	$318.36	$406.75	$544.70
40	$322.67	$413.65	$555.00
41	$326.97	$420.55	$565.60
42	$331.28	$427.66	$576.40
43	$335.69	$434.87	$587.40
44	$340.20	$442.18	$598.60
45	$344.72	$449.60	$610.00
46	$350.81	$458.76	$623.20
47	$357.00	$468.14	$636.70
48	$363.30	$477.71	$650.50
49	$369.71	$487.50	$664.60
50	$376.22	$497.49	$679.00
51	$382.83	$507.69	$693.80
52	$389.55	$518.09	$708.80
53	$396.38	$528.70	$724.20
54	$403.41	$539.51	$739.90
55	$410.55	$550.54	$755.90
56	$440.48	$588.75	$809.80
57	$472.61	$629.64	$867.50
58	$507.05	$673.31	$929.30
59	$543.90	$720.07	$995.50
60	$583.59	$770.03	$1,066.40
61	$626.12	$823.49	$1,142.40
62	$671.79	$880.65	$1,223.80
63	$733.74	$962.95	$1,339.80
64	$801.47	$1,052.97	$1,466.80
65	$865.58	$1,126.68	$1,569.48
66	$934.83	$1,216.81	$1,679.34
67	$1,009.62	$1,314.16	$1,796.89
68	$1,090.38	$1,419.29	$1,930.23
69	$1,211.81	$1,547.81	$2,150.64
70	$1,340.75	$1,729.87	$2,396.25
71	$1,540.77	$1,933.44	$2,669.85
72	$1,735.55	$2,160.93	$2,974.77
73	$1,924.97	$2,433.75	$3,335.67
74	$2,109.14	$2,740.95	$3,740.31
75	$2,346.15	$3,087.00	$4,194.18
76	$2,642.60	$3,476.81	$4,702.95
77	$2,976.56	$3,915.74	$5,273.55
78	$3,282.46	$4,316.20	$5,783.13
79	$3,619.73	$4,757.64	$6,342.03
80	$3,991.68	$5,244.13	$6,954.93
81	$4,401.81	$5,867.91	$7,804.10
82	$4,854.18	$6,530.20	$8,685.00
83	$5,343.31	$7,198.98	$9,574.40
84	$5,881.77	$7,874.25	$10,472.40
85	$6,474.57	$8,556.00	$11,379.10
86	$7,127.00	$9,704.97	$12,907.30
87	$7,845.30	$10,842.09	$14,419.60
88	$8,524.85	$11,967.26	$15,916.00
89	$9,263.27	$13,080.28	$17,396.40

Issue Age	3-Yr Benefit
  Period	  5-Yr.
 Benefit
  Period	 Unlimited
  Benefit
  Period
35	$247.43	$302.74	$378.50
45	$363.53	$446.70	$555.75
55	$522.32	$646.08	$810.43
65	$1,126.33	$1,406.97	$1,750.61
75	$3,073.57	$3,879.00	$4,769.07

(b) The insurers used to tabulate the above rates are:
Insurer	Weighing Percentage
Bankers Life & Casualty	90.3%
Penn Treaty Network America Insurance Company	9.7%
Rulemaking Specific Authority 627.9408(1) FS. Law Implemented 627.9407(7) FS. History–New 11-1-07, Amended________.

69O-157.303 Home Health Care Only Rates.
(1) The footnote following Section 627.9407, F.S., states that Section 11, Ch. 2006-254, F.S., provides that “[t]his act shall apply to long-term care insurance policies issued or renewed on or after July 1, 2006. For any long-term care insurance policy issued prior to July 1, 2006, the provisions of [Section 627.94076, F.S.] shall apply to such policy only upon renewal of such policy on or after July 1, 2008, and the policy shall so provide by endorsement to the policy.”
(2) The following maximum new business rates are effective for 200906 rate increase filings and for 201007 rate filings until new rates are published. These annual rates are appropriate for:
(a) Tax qualified policies;
(b) A benefit of $100/day;
(c) An elimination period of 90 days;
(d) Policies offering Restoration of Benefits, and
(e) Sales in Hillsborough County. For all other counties, the rate from this table should be adjusted by the insurer’s current area factor applicable in that county relative to the insurer’s area factor in Hillsborough County.
(3)(a) Home Health Care Only Rates:
 Issue Age	 3-Yr.
 Benefit
 Period	 5-Yr.
 Benefit
 Period	 Unlimited
 Benefit Period
30	$269.87	$312.28	$349.95
31	$269.87	$312.28	$349.95
32	$269.87	$312.28	$349.95
33	$269.87	$312.28	$349.95
34	$269.87	$312.28	$349.95
35	$289.72	$338.50	$387.94
36	$289.72	$338.50	$387.94
37	$289.72	$338.50	$387.94
38	$289.72	$338.50	$387.94
39	$289.72	$338.50	$387.94
40	$322.79	$378.01	$432.23
41	$322.79	$378.01	$432.23
42	$322.79	$378.01	$432.23
43	$322.79	$378.01	$432.23
44	$322.79	$378.01	$432.23
45	$369.28	$443.74	$508.03
46	$369.28	$443.74	$508.03
47	$369.28	$443.74	$508.03
48	$369.28	$443.74	$508.03
49	$369.28	$443.74	$508.03
50	$419.54	$503.66	$578.79
51	$432.77	$523.33	$597.70
52	$452.62	$536.43	$623.00
53	$465.85	$562.65	$648.29
54	$485.87	$582.50	$673.50
55	$529.97	$636.44	$726.61
56	$556.75	$663.03	$768.52
57	$590.32	$699.83	$810.60
58	$630.64	$749.93	$865.74
59	$670.96	$796.74	$921.05
60	$708.00	$853.39	$976.28
61	$754.93	$903.67	$1,034.35
62	$802.05	$956.95	$1,095.97
63	$865.99	$1,040.67	$1,184.05
64	$933.27	$1,124.47	$1,281.90
65	$1,010.63	$1,214.83	$1,376.28
66	$1,087.98	$1,301.72	$1,476.97
67	$1,165.25	$1,398.64	$1,583.96
68	$1,262.76	$1,515.59	$1,707.65
69	$1,366.99	$1,642.56	$1,844.12
70	$1,477.73	$1,772.81	$1,986.80
71	$1,595.09	$1,912.89	$2,135.79
72	$1,712.46	$2,056.24	$2,297.47
73	$1,840.71	$2,204.01	$2,445.41
74	$1,968.78	$2,355.32	$2,599.83
75	$2,106.93	$2,516.29	$2,763.85
76	$2,248.33	$2,680.72	$2,930.87
77	$2,389.72	$2,848.23	$3,104.12
78	$2,571.75	$3,056.67	$3,308.54
79	$2,753.77	$3,268.58	$3,519.36
80	$2,949.12	$3,483.48	$3,726.71
81	$3,151.09	$3,715.14	$3,950.13
82	$3,359.66	$3,949.80	$4,179.86
83	$3,571.71	$4,188.29	$4,410.21
84	$3,793.92	$4,433.35	$4,656.64
85	$4,025.90	$4,688.13	$4,899.59
86	$4,267.96	$4,952.94	$5,158.79
87	$4,513.17	$5,224.30	$5,420.66
88	$4,885.73	$5,633.61	$5,792.96
89	$5,261.44	$6,049.38	$6,171.47

Issue Age	 3-Yr.
 Benefit
 Period	 5-Yr.
 Benefit
 Period	 Unlimited
 Benefit Period
35	$166.18	$203.65	$242.26
45	$245.38	$306.44	$366.65
55	$369.58	$455.50	$548.26
65	$691.78	$836.06	$989.23
75	$1,318.83	$1,520.52	$1,702.93

(b) The insurers used to tabulate the above rates are:
Insurer	Weighing Percentage
Bankers Life & Casualty Company	97.2% 
Colonial American Life Insurance Company
Penn Treaty Network America Insurance Company	2.3%
0.5%
Rulemaking Authority 627.9408(1) FS. Law Implemented 627.9407(7) FS. History–New 11-1-07, Amended________.

69O-157.304 Comprehensive Only Rates.
(1) The footnote following Section 627.9407, F.S., states that Section 11, Ch. 2006-254, L.O.F., provides that “[t]his act shall apply to long-term care insurance policies issued or renewed on or after July 1, 2006. For any long-term care insurance policy issued prior to July 1, 2006, the provisions of [Section 627.94076, F.S.] shall apply to such policy only upon renewal of such policy on or after July 1, 2008, and the policy shall so provide by endorsement to the policy.”
(2) The following maximum new business rates are effective for 20096 rate increase filings and for 201007 rate filings until new rates are published. These annual rates are appropriate for:
(a) Tax qualified policies;
(b) A benefit of $100/day;
(c) An elimination period of 90 days;
(d) Policies offering Restoration of Benefits, and
(e) Sales in Hillsborough County. For all other counties, the rate from this table should be adjusted by the insurer’s current area factor applicable in that county relative to the insurer’s area factor in Hillsborough County.
(3)(a) Comprehensive Only Rates:
Issue Age	 3-Yr Benefit
  Period	 5-Yr. Benefit
  Period	 Unlimited
 Benefit Period
30	$357.66	$452.19	$592.98
31	$359.27	$454.73	$596.13
32	$360.91	$457.15	$599.55
33	$362.81	$467.83	$610.09
34	$372.25	$470.36	$613.92
35	$392.37	$485.24	$646.03
36	$394.19	$495.83	$656.91
37	$396.24	$498.95	$660.88
38	$398.57	$501.94	$664.98
39	$408.46	$505.21	$669.38
40	$422.18	$538.84	$704.43
41	$426.52	$542.98	$711.03
42	$430.28	$547.83	$717.94
43	$434.51	$552.75	$733.25
44	$445.46	$558.21	$740.15
45	$457.15	$588.24	$767.35
46	$469.07	$593.07	$782.73
47	$474.02	$599.22	$790.99
48	$479.33	$605.50	$799.51
49	$492.01	$611.69	$822.72
50	$502.21	$631.63	$839.32
51	$518.00	$648.72	$859.73
52	$533.51	$674.20	$887.15
53	$550.58	$693.44	$918.49
54	$568.09	$721.86	$949.96
55	$588.25	$733.65	$980.98
56	$626.56	$787.13	$1,040.83
57	$661.34	$841.03	$1,109.08
58	$705.13	$905.55	$1,179.64
59	$741.88	$954.58	$1,260.83
60	$795.99	$1,022.36	$1,336.52
61	$852.97	$1,093.08	$1,431.38
62	$919.59	$1,166.20	$1,537.41
63	$991.75	$1,254.51	$1,661.23
64	$1,059.64	$1,337.42	$1,777.18
65	$1,130.19	$1,414.66	$1,895.31
66	$1,239.89	$1,554.84	$2,083.84
67	$1,369.00	$1,719.56	$2,290.03
68	$1,512.16	$1,894.92	$2,524.36
69	$1,651.51	$2,086.98	$2,776.71
70	$1,802.07	$2,295.68	$3,049.92
71	$2,041.92	$2,572.02	$3,414.19
72	$2,293.64	$2,876.35	$3,811.27
73	$2,557.01	$3,196.06	$4,229.60
74	$2,833.53	$3,547.08	$4,682.75
75	$3,132.41	$3,931.85	$5,162.40
76	$3,519.05	$4,396.08	$5,779.67
77	$3,925.72	$4,914.88	$6,453.45
78	$4,344.97	$5,450.22	$7,131.36
79	$4,779.15	$5,988.95	$7,829.68
80	$5,206.95	$7,201.34	$9,704.96
81	$5,695.37	$7,855.63	$10,582.32
82	$6,200.20	$8,560.10	$11,522.41
83	$6,772.84	$9,335.36	$12,551.65
84	$7,380.07	$10,190.80	$13,680.13
85	$8,971.35	$11,276.50	$15,228.74
86	$10,532.62	$13,010.62	$17,716.18
87	$11,566.04	$14,303.82	$19,459.57
88	$12,659.68	$15,643.72	$21,277.97
89	$13,799.95	$17,046.75	$23,185.77

Issue Age	  3-Yr.
 Benefit
 Period	 5-Yr.
 Benefit
 Period	 Unlimited
  Benefit
  Period
35	$332.88	$414.10	$574.47
45	$474.36	$592.44	$822.62
55	$666.65	$824.77	$1,151.34
65	$1,313.19	$1,640.75	$2,259.55
75	$3,288.22	$4,210.08	$5,603.51

(b) The insurers used to tabulate the above rates are:
Insurer	Weighing Percentage
Bankers Life & Casualty Insurance Company	52.7%
Blue Cross Blue Shield of Florida	5.1%
Genworth Life Insurance Company	11.5%
Great American Life Insurance Company
John Hancock Life Insurance Company	9.8%
14.2%
Metlife Insurance Company	6.7%
Rulemaking Authority 627.9408(1) FS. Law Implemented 627.9407(7) FS. History–New 11-1-07, Amended________.

A copy of the agenda may be obtained by contacting: Governor and Cabinet Website: http://www.myflorida.com/myflorida/cabinet/mart.html. For more information, you may contact: Gerry Smith at e-mail: gerry.smith@fldfs.com.

PRINT PUBLISH DATE:

4/10/2009 Vol. 35/14

REFERENCE MATERIALS:

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