WITHDRAWN – Notice to Policyholders of Proposed Long-Term Care Rate Increase

State of Vermont For consumer assistance: Department of Financial Regulation [Banking] 888-568-4547 89 Main Street [Insurance] 800-964- 1784 Montpelier, VT 05620-3101 [Securities] 877-550-3907 www.dfr.vermont.gov Insurance Bulletin No. 216 - Repealed 7/1/2023 Notice to Policyholders of Proposed Long-Term Care Rate Increase 09/01/2020 To increase consumer awareness and transparency, within 45 days after filing a proposed longterm premium rate increase with the Department, an insurer shall notify all policyholders of any proposed premium rate increase. An insurer shall provide written notice by first-class mail to the last known mailing address of all affected individual policyholders, group policyholders, and others who are directly billed for group coverage. The insurer shall file a copy of the notice through SERFF in conjunction with its rate request, and within 45 days of the filing shall also file through SERFF a written certification that notices have been sent in accordance with this Bulletin. The notice is not subject to the Department’s pre-approval, but the notice shall include: • The proposed rate increase for the individual or group policyholder. • A summary of why the rate increase is being requested. • A clear and conspicuous statement that the rate is subject to Department approval. • A statement that the policyholder may provide written or oral comments on the proposed rate increase to the Department. • The Department’s current consumer services contact information, including the website, email address, and toll-free telephone number. This Bulletin applies to all long-term care rate filings submitted to the Department after September 1, 2020. Inquiries about this Bulletin should be directed to Emily Brown, Director of Rates and Forms (Emily.Brown@vermont.gov) ____________________________________ __________________________ Michael S. Pieciak, Commissioner Date