Cumulative PV L/Rs & Members LTC-MD: Cumulative PV L/Rs & … · 2020-05-26 · Benefit Selection 3...
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2/8/2019 3:52 PM H:\Actuary\shared\LTC\UW G&L & NI Modeling\MD LRs.xlsx: Graphs 0 200 400 600 800 1,000 1,200 1,400 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 2002 2005 2008 2011 2014 2017 2020 2023 2026 2029 2032 2035 2038 2041 2044 2047 2050 2053 2056 2059 2062 2065 Axis Title Members L/Rs LTC-MD: Cumulative PV L/Rs & Members Members Ideal No Incr. Incr.=26.9% Incr.=15.0%
Transcript of Cumulative PV L/Rs & Members LTC-MD: Cumulative PV L/Rs & … · 2020-05-26 · Benefit Selection 3...
2/8/2019 3:52 PM H:\Actuary\shared\LTC\UW G&L & NI Modeling\MD LRs.xlsx: Graphs
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Cumulative PV L/Rs & Members
Members Ideal No Incr.
Incr.=26.9% Incr.=15.0%
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LTC-MD: Cumulative PV L/Rs & Members
Members Ideal No Incr. Incr.=26.9% Incr.=15.0%
2/8/2019 4:21 PM H:\Actuary\shared\LTC\Model - OCA\LTC Exhibits.xls: Corporate Bond Rates
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Axi
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LTC: 5- & 25- Yr. Corporate Bond Spot Rates
5-Yr. Bond Rate 25-Yr. Bond Rate
MIA
LTC FILINGS
1 2 3 4 5 6 7
∆1 # of LTC Rate Filings in 2018: 49
2 Average Requested Increase (2-Yr.): 42.0%
3 Average Approved Increase (2-Yr.): 16.5%
4
5 Average Annual Premium: $2,700
6 Requested: $3,834 $1,134
7 Approved: $3,146 $446
8 ∆ $689
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10 LTC MD Insurer
11 A 23.0% 168.0% 15.0% 32.3% -8.0% -135.7%
12 B 10.3% 36.3% 5.0% 15.6% -5.3% -20.7%
13 C 30.0% 52.1% 15.6% 15.0% -14.4% -37.1%
14 D 7.1% 32.3% 5.0% 12.5% -2.1% -19.8%
15 E 15.0% 101.1% 5.2% 15.6% -9.8% -85.5%
Requested Range (2-Yr.) ∆Approved Range (2-Yr.)
2/8/2019 4:58 PM H:\Actuary\shared\LTC\Model - OCA\LTC Exhibits.xls: OCA
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TC
Info
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Maryland LTC Data
Inforce Count % of Population > 65 with LTC
Benefit Selection
3 Year Benefit Period
5% Compound Inflation
90 Day Elimnation Period
Issue Age 55
$150 Daily Benefit
Male
New or Renewal Rate
New $5,625
Renewal $1,888 198.0%
Renewal $3,488 61.3%
Renewal $2,637 113.3%
Renewal $3,886 44.7%
Renewal $2,571 118.7%
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2/8/2019 4:34 PM H:\Actuary\shared\LTC\Model - OCA\LTC Exhibits.xls: Rate Comparison
LTC LIFE CYCLEMARYLAND BUSINESS
~1200 Members
1 2 3 4Projected Net
Investment Income/Scenario Earning % Profit $s IRR/Profit %
1 Ideal $10,100,000 20.1%
2 No Rate Change 4.5% ($5,600,000) -10.4%
3 Requested Rate Change (Double-Digit) $3,000,000 5.0%4 Rate Change 15.0% (Capped) ($100,000) -0.2%
56 No Rate Change 5.0% ($2,600,000) -4.9%
7 Requested Rate Change (Double-Digit) $5,700,000 9.4%8 Rate Change 15.0% (Capped) $2,600,000 4.6%
910 No Rate Change 5.5% $0 0.0%
11 Requested Rate Change (Double-Digit) $8,000,000 13.2%12 Rate Change 15.0% (Capped) $5,100,000 8.8%
2/8/2019 4:12 PM H:\Actuary\shared\LTC\Model - OCA\LTC Exhibits.xls: Model
2/8/2019 4:24 PM H:\Actuary\shared\LTC\Model - OCA\LTC Exhibits.xls: CPI-U Comparison
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CPI-U -- Comparison of MD and National
CPI-U National CPI-U Maryland Compound 5.0%
LTC HEARING - 02/11/19
1 1 2 4 5 6 7 8 10 13 18 19 20 21 22
2 Current Filed Filed MD MD
3 Cumulative Incremental Cumulative LTLR LTLR
4 Total Total Average Lifetime Lifetime Lifetime w/ w/o
5 MD MD Nationwide MD Annual Rate Rate Rate Rate Rate
6 Carrier Type Members Members % Members % Premium Increase Increase Increase Increase Increase ∆
7 Continental Casualty Group 1,768 12,550 14% 343,168 4% $1,215 15.0% 15.0% 32.3% 118.8% 125.7% -6.9%
8 Genworth Individual 5,897 32,757 18% 1,171,422 3% $2,680 74.9% 15.0% 101.1% 103.5% 108.6% -5.1%
9 Physicians Mutual Individual 246 246 100% 25,867 1% $3,088 103.4% 10.0% 123.7% 125.1% 171.5% -46.4%
10 TransAmerica LIC Ind + Grp 1,638 2,564 64% 245,566 1% $2,466 162.8% 53.0% 302.1% 102.1% 107.9% -5.8%
11 Subtotal 9,549 48,117 20% 1,786,023 3%
2/8/2019 4:45 PM H:\Actuary\shared\LTC\Model - OCA\LTC Exhibits.xls: 02.11.19
