Long-Term Care Insurance Rate Increases

In order for a long-term care insurance (LTCI) company to increase their rates on policies issued in Virginia, the company must submit the request for approval to the Bureau of Insurance (BOI) of the State Corporation Commission (Commission).  An insurance company’s request to increase the rate must be justified.  The BOI reviews the request for compliance with state law, which requires BOI to consider to the extent practicable, how the rate increase will impact policyholders.  The BOI may approve or disapprove the requested rate increase or approve a rate that is lower than the rate increase requested by the insurance company.

All approved and pending LTCI rate increase requests may be found on the BOI’s website here: https://www.scc.virginia.gov/boi/SERFFInquiry/LtcFilings.aspx  (Ctrl + click)

Your insurance company must send you a notice to let you know they have requested a rate increase from the BOI.  You may submit comments on proposed LTCI rate increases via email or mail to the BOI. Please include your name, name of the insurer, and SERFF tracking number (which is provided in your insurance company’s notice of rate increase) with the comment. 

• Email address: LTCRateComment@scc.virginia.gov
• Mailing address: Virginia State Corporation Commission
  Bureau of Insurance
  P.O. Box 1157
  Richmond, VA 23218
  Attn: Life & Health Rate

Please note: If you have concerns regarding an approved LTCI rate increase, you may submit a complaint to the BOI. Information on filing a complaint can be found our website at File a Complaint.

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