Genworth Rate Increase in CA Not For Partnership

Genworth has increased premiums (PCS I) in California but not for California Partnership policies.

California, New York, Connecticut, and Indiana are the four original Partnership states. Unlike the “new” Partnership states which were created after the passage of the Deficit Reduction Act (2005), the “original” Partnership states actually have state offices that regulate the Partnership program and policies sold in that state.

When a company wants to increase rates they must go through the state’s department of insurance and if it is an “original” Partnership state they also have to get approval from the Partnership office. Because of additional state regulations for Partnership you find few companies in “original” states participating in Partnership.

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About Partnership for Long Term Care

Promoting the idea of preventing long term care from financially devastating families by insuring for long term care with state Partnership qualified policies.
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