The principal areas of regulatory concern are benefit levels, policy restrictions and exclusions, loss ratios, and policy renew ability. Current long- term care insurance policies have many limits on who and what will be covered by the policies. To protect consumers from buying policies with little or no value, some states have tried to set minimum benefits or to prohibit certain restrictions. Opposing such requirements, insurers argue that they need those restrictions to manage risk, control use of services, and reduce premiums. Accordingly, the NAIC model act discourages mandated benefits, allows companies to exclude specific diseases and preexisting conditions as defined in the model act, and allows prior institutionalization requirements with minor limitations.