Insurance Agents Area
Training for agents offering the Virginia LTC Partnership Policy consists of the following components:
- Initial training of at least eight hours and then ongoing training of at least four hours every 24 months. At least two hours of training, specifically on the Partnership is required.
- The Insurance Continuing Education Board must approve the training.
- Required topics include:
- State and federal regulations and requirements and the relationship between qualified state LTC insurance Partnership programs and other public and private coverage of long-term care services, including Medicaid
- Available long-term care services and providers
- Changes or improvements in long-term care services or providers
- Alternatives to the purchase of private LTC insurance
- The effect of inflation on benefits and the importance of inflation protection
- Consumer suitability standards and guidelines
- Each insurer shall maintain records with respect to the training of its agents qualified to sell, solicit or negotiate partnership policies, to include training received and that the agent has demonstrated an understanding of the partnership policies and their relationship to public and private coverage of long-term care, including Medicaid, in Virginia.
For complete training specifics, please see the Virginia Bureau of Insurance⇒ and see the attached administrative letter (dated May 1, 2007).