Alabama’s Rate Increase History

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Alabama’s Long-Term Care Insurance

Rate Increase History

 

To protect Alabama residents from out-of-control premium increases, the state of Alabama enacted a long-term care insurance Rate Stability Regulation in 2006.
All Alabama residents who purchase long-term care insurance after July 1st, 2006 are protected by this regulation.  Policies purchased before July 1st, 2006 are NOT protected by this regulation.

Alabama Long-term care insurance rate increase graphic

 

 

Over 99% of all long-term care insurance premium increases in Alabama have been on policies that were issued before July 1st, 2006 and are not protected by the Rate Stability Regulation.
Less than 1% of the long-term care insurance premium increases in Alabama have been on policies purchased after July 1st, 2006.

 

 

 

 

 

Today, 15 insurance companies sell nearly all of the new long-term care insurance policies.
14 of the top 15 companies selling long-term care insurance today have not had any premium increases on any of the long-term care policies they’ve sold in Alabama since July 1st, 2006.  Alabama’s Rate Stability Regulation is working to protect Alabama residents.

Listed alphabetically are 15 of the top long-term care insurers.
Click each of company below to view their rate increase history in Alabama:

 

 

SOURCE: 2013 Long-Term Care Rate Guide Data Call

 

 

 

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