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Home » 2009 Issues » Vol. 35, No. 14 (04/10/2009) » 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 ...

  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 ...  

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    DEPARTMENT OF FINANCIAL SERVICES
    OIR – Insurance Regulation

    RULE NO: RULE TITLE
    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: April 28, 2009, 9:00 a.m. during a regular meeting of the Financial Services Commission

    PLACE: Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida

    GENERAL SUBJECT MATTER TO BE CONSIDERED: 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.

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Document Information

Hearing Meeting:
Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida
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 ...
Meeting:
hearing
Contact:
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.
Related Rules: (3)
69O-157.002. Applicability and Scope
69O-157.003. Definition of Terms
69O-157.004. Out-of-State Group Long-Term Care Insurance