On November 21, 2022, Continental General Insurance Company requested an average 60.3 percent average rate increase for a group of individual long-term care base policy forms (Preferred Advantage and TQ). The increases vary by benefit period and inflation protection with a range of 35% to 60% for those impacted.

The company began selling the plans in Connecticut in 1994 for Preferred Advantage and in 1997 for TQ but is no longer marketing them. There are about 128 policies that would be impacted by the rate increase in Connecticut.

The company said the increase is necessary at this time to establish premium rates reasonable in relation to benefits, based on actual historical experience and best estimate projections for these forms.

The company is offering policyholders options to mitigate the impact of any potential increase.

Connecticut law requires that any increase 20 percent or higher be phased in over three years or more.

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