On May 24, 2021, MedAmerica Insurance Company requested an overall average increase of 13.9 percent for individual long-term care policies (FlexCare-nonPartnership), with a range of 0% to 40%. The policies were sold in Connecticut from 2012 to 2016 and are no longer being marketed.

There are about 100 policies currently in effect in Connecticut.

The company said the increase is due to emerging and projected experience running more adverse than previously expected.

Unlike medical health insurance with premiums set to cover expenses incurred only during the upcoming policy year, long term care premiums are set to cover expenses that are not expected to occur until a distant date, sometimes 20 years in the future.

The company noted it would offer its customers options to reduce or change benefits to offset the impact of an increase. If approved, the new rates would take effect 60 days after the company notifies policyholders. Under Connecticut law, increases of 20 percent or more must be phased in over three or more years.

###