“Why the Conventional Wisdom About Retirement Spending Is Wrong,” by David Blanchett, Wall Street Journal

“At the end of the day, though, it’s the nonrecurring health-care costs (like hospitalizations and nursing-home care, which tend to increase with age) that can really be the budget-busters for retirees. The impact of these expenses are generally relatively binary—either they are enormous or they are fairly insignificant, which makes them relatively hard to plan for. Two potential options here would be to purchase some kind of long-term-care insurance policy, or view the home as an asset of ‘last resort’ that could be used to pay for potential medical expenses.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
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Categories: Industry News and Long-Term Care.

Brian Vestergaard Named VP Of Sales & Marketing

LifeSecure Insurance Company has named Brian Vestergaard as Vice President of Sales and Marketing. This is an expansion of his previous position, in which he served as the company’s Vice President of Product and Marketing. Brian will now lead LifeSecure’s Sales, Product, and Marketing areas. His broader responsibilities now also include directing the strategic planning and development of key business opportunities that will continue LifeSecure’s national growth. Brian’s business acumen, innovative thinking, and strategic approach to LifeSecure’s long-term vision will complement the existing sales leadership’s depth of knowledge and expertise in navigating external partnerships and exceptional relationship-building strengths. Brian joined
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Categories: Life Secure.

LifeSecure Electronic Agent Appointment Submissions

Attention Agencies, Licensing Personnel & Administrative Staff: Electronic Agent Appointment Submissions Reminder: As of February 1, all agent appointments must be submitted through LifeSecure’s new & e-appointment system. Click here for more details on how our new upgrades and enhancements give you an easier, faster, and greener way to submit agent appointments to LifeSecure. For more information on our new process, view our flier that will guide you through the steps of requesting an appointment in our new system. #goldencareagent #LifeSecure
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Categories: Life Secure and Long-Term Care.

“Private Long Term Care Insurance Market Must Be Shored Up, Policy Center Argues,” by Bill Myers, Provider

“Policymakers should act ‘to stabilize’ the long term care insurance market ‘and make it accessible to more Americans,’ a new report argues. …  The report also urges state policymakers to consider expanding Medicaid-even if only as part of a one-off ‘buy-in’ to help pay for long term care services and supports.  Finally, the report urges lawmakers and policymakers to pursue concepts and elements for a public insurance program to:  1.) address uninsurable long term care costs;  2.) protect Americans from the catastrophic costs of long term care supports and services; and  3.) provide relief to states, which along with the
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Categories: Industry News and Long-Term Care.

“Wealth-Protection Insurance People Neglect,” by Ivory Johnson, Wall Street Journal

“When you’re in your 50s, it’s easy to put off buying long-term-care coverage because it isn’t something you’re likely to need right away.  I help clients combat this impulse by showing them what their retirement will look like based on how we’ve planned it, and what would happen to that plan if they had to pay for long-term care out-of-pocket for just three years.  You can do all of the saving in the world, but if you have to go into a nursing home, all of a sudden you may have $6,000 in monthly expenses you weren’t expecting.” LTC Comment
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Categories: Industry News and Long-Term Care.

Update: Simplicity ii Rate Increase Action In MD & OK

As you are aware, MedAmerica is currently in the process of raising rates on the Simplicity ii product line. This rate action does not affect CareDirections Simplicity®. This notice is to inform agents that they have received rate approval from Maryland & Oklahoma, and are implementing the rate increase activity in these states. This is the only notification agents will receive regarding this rate action. MedAmerica will mail notification of the rate increase to affected insureds on February 5, 2016. The new premium amount will be effective as of the insured’s next billing date, following the state required notification timeframe.
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Categories: Long-Term Care and MedAmerica.

“What Are The Best Coverage Options For Long-Term Care Insurance,” by Wade Pfau, Forbes

“This is the second part of a series. Read part one here.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): FYI. What Are The Best Coverage Options For Long-Term Care Insurance #goldencareagent
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Categories: Industry News, Linked Benefit/Hybrids, and Long-Term Care.

“Free Webinar: The Evolving Medicare Payment Landscape: How PAC Providers Can Prepare,” by Avalere and McKnight’s LTC News

“Register Today for a McKnight’s Long-Term Care News Free Webcast; Thursday, February 4th, 2016 1:00 PM ET / 12:00 PM CT: “The Evolving Medicare Payment Landscape: How PAC [Post-Acute Care] Providers Can Prepare” “Avalere Health will explore the current value-based purchasing landscape for post-acute care. We will provide insight into emerging payment models, such as bundled payments, and the expanded role of quality measurement and coordinated care. Finally, we will provide solutions to help prepare post-acute care providers for new payment models and opportunities.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Huge changes are afoot
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Categories: Industry News and Short-Term Care.