Advantages-12

Advantages of Long Term Care Insurance Page 12

As long- term care insurance has grown, so has regulatory activity, both in providing greater flexibility and in imposing mandatory minimum standards. Many more states can be expected to consider new laws and regulations based on the NAIC’s recently adopted Long Term Care Insurance Model Act. In general, the act seeks to promote a positive regulatory environment, alleviating barriers to market growth and diversification. (U.S. Congressional Budget Office, 1977)

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