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Central States Health & Life Company of Omaha – Individual (1996-2000)

Rate request: 194 percent increase

Decision: Disapproved, limited to a 40%

On January 18, 2019, Central States Health & Life Company of Omaha requested a 194 percent rate increase for its long-term care plans that provide daily benefits for individuals. The policies were issued from 1996 to 2000 and are no longer being marketed.

There are 23 policies 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.

After an actuarial review, the Department determined that while Connecticut experience has been worse than expected and will most likely exceed the minimum lifetime loss ratio, a significant amount of the early experience is estimated and the increase request is coming with a small number of policyholders and future premium payments remaining. The large rate increases requested would have a minimal impact on the lifetime loss ratios.

The new rates would take effect 60 days after the company has notified its customers.


Find the filing documents here at Long-Term Care Insurance Rate Filing