A. “Partnership-Qualified Long-Term Care Insurance policy” means a long-term care insurance policy that meets all of the requirements of Section 5 of this Rule.

B. “Inflation protection benefit” means a feature that increases benefit levels annually: 1) by compounding annually at a stated rate of not less than 3% for ages less than 61 and by annual simple interest at a stated rate of not less than 3% for ages 61 through 75; or 2) based on changes to the Consumer Price Index. Future guaranteed purchase options do not meet this definition.

C. “Consumer price index” means the consumer price index for all urban consumers, U.S. city average, and all items, as determined by the Bureau of Labor Statistics of the United States Department of Labor.

D. “Federal Long-Term Care Partnership Program” means the Long-Term Care Partnership Program as authorized under the Deficit Reduction Act of 2005, (Section 6021), which amended Section 1917(b) of the Federal Social Security Act to provide for Qualified State Long-Term Care Insurance Partnership Programs.

E. “Secretary” means the Secretary of the United States Department of Health and Human Services.

F. “Rule 13” means Arkansas Insurance Department Rule, “Long-Term Care Insurance.”

G. “Commissioner” means the Arkansas Insurance Commissioner.

H. “Insurer” or “Issuer” means an entity authorized to issue long-term care insurance under Ark. Code Ann. § 23-97-304(7)(C).