R590-220-13. Additional Procedures for Long Term Care Products

  A filer submitting long-term care product filings is advised to review Title 31A, Chapter 22, Part 14, Long Term Care Insurance Standards and Rule R590-148.

  (1) A long-term care form filing that affects rates must be filed with all required rating documentation.

  2) Rates.

  (a) Rates and rate documentation submitted with a new form filing are a File and Use filing.

  (b) A rate revision filing is a File for Acceptance filing.

  (c) Long-term care rates must comply with Rules R590-148 and R590-85.

  (d) A licensee shall not use or change premium rates for a long-term care policy or certificate unless the rates, rating schedule and supporting documentation have been filed.

  (3) Annual Long-term Care Reports.

  (a) All four long-term care reports required by Section R590-148-25 must be submitted together as one filing:

  (i) Replacement and Lapse Reporting Form;

  (ii) Claims Denial Reporting Form;

  (iii) Rescission Reporting Form; and

  (iv) Suitability Report Form.

  (b) If all reports are not submitted as one filing, the filing is considered incomplete and will be rejected.

  (c) If there is no information to report, the reporting form must state "NONE."

  (d) Reports are due June 30 each year.

  (e) All long term care reports must be electronically filed using a type of insurance of "LTC06," and a filing type of "Report."