Public Forum

Watch the Forum Online

If you missed the October 29th Public Forum about Long-Term Care Insurance, you can watch it online on YouTube.


Forum Overview

Online Attendance Information



  • Vincent L. Bodnar, ASA, MAAA | Partner & Long-Term Care Practice Leader, Actuarial Consulting
    Oliver Wyman

  • John Lemoine | Assistant Vice President and Legal Counsel, Corporate and Regulatory Affairs
  • Jamala Arland, FSA, MAAA, CFA | Vice President and Actuary

  • Michael S. Gugig | Vice President, State Government Relations & Associate General Counsel
  • Guaranty Association

Long-Term Care 101 / Consumer Information

Long-term care insurance policies include a number of long-term care service alternatives, including home health care, respite care, hospice care, personal care in the home, services provided in assisted living facilities, adult day care centers and other community facilities. Public programs, such as Medicare and Medicaid, also cover certain limited LTC services. As our population ages, the need for LTC support and services will increase and require innovative new approaches.

According to the U.S. Department of Health and Human Services (HHS), about 12 million of America's senior citizens will require long-term care by 2020.

Despite the growing need, the number of insurers offering LTCI coverage has decreased from slightly over 100 in 2004 to about a dozen in 2018. Additionally, premium rates for newly-issued policies have risen as the remaining writers have refined their pricing.

Rate Increases

Long-Term Health Care Rate Increases FAQs

The Commissioner of the Department of Financial Regulation, Michael Pieciak, and Department staff understand that LTC premium increases may be unsettling. Please know that we are committed to helping you understand your options so that you can make the best decision for you.

Companies continue to see claims costs higher than expected: people are living longer, filing more claims, and staying on claim longer than initially anticipated. Many companies have made the necessary decision to increase the premiums on long-term care insurance policies. The Department must review these requests. We have approved some long-term care rate increase requests and plan to approve more in the future.

Come learn about the features of long-term care insurance, and the pricing challenges facing the industry. Share your thoughts about long-term care insurance rate increases with company representatives from Unum, Genworth, and TransAmerica. DFR staff will walk you through the rate review process and the standards that guide every rate increase review.

The Department of Financial Regulation wants to ensure Vermont policyholders receive the benefits of your long-term care policies when you need them. 

Contact Information

Department of Financial Regulation
Consumer Services 
89 Main Street, Montpelier, VT 05620 - 3101

833-DFR-HOTLINE (toll free)
833-337-4685 (toll free)

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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Employee Information