“Medicare Advantage ratings proving to be boon to insurers, patients, ” by Phil Galewitz, USA Today

“Plans are paid about $10,000 per member annually on average, although the precise amount varies by county and other factors.  For plans with 4, 4.5 or 5 stars, bonuses bring in an extra 5% a year per member — about $500 each, said Monisha Machado-Pereira, a partner at consulting firm McKinsey & Co. A 4-star plan with 1 million members would earn $500 million in bonuses.  ‘Getting to 4 stars is really, really critical,’ said Michael Kavouras, vice president of star ratings at Aetna.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Interesting background on Medicare
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Categories: Industry News and Medicare Supp./Adv..

“Women 80% More Likely Than Men to be Impoverished in Retirement, ” Advisor Magazine

“For women age 65 and older, the data indicate that their typical income is 25 percent lower than men. As men and women age, men’s income advantage widens to 44 percent by age 80 and older. Consequently, women were 80 percent more likely than men to be impoverished at age 65 and older, while women age 75 to 79 were three times more likely to fall below the poverty level as compared to their male counterparts. These findings are contained in a new report, Shortchanged in Retirement, The Continuing Challenges to Women’s Financial Future. The report is available here.” LTC
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Categories: Industry News and Long-Term Care.

GTL: New Illinois Critical Cash Brochures

Illinois Critical Cash Brochures The Critical Cash product for Illinois requires its own state specific sales brochure.  Please begin to use the new brochures immediately. Order New Brochures Today Please contact the GoldenCare Supply Department at (800) 842-7799, GTL’s Sales Support at (800) 323-6907 or agency@gtlic.com to request your new Illinois brochures (stock# 15B410).   You can also access the new brochures and Critical Cash supply order form online immediately through GTLink, from our website (www.gtlic.com/agent-connection.html). GTL: New Illinois Critical Cash Brochures Announcement Click here to view/print the PDF version of the IL Critical Cash Brochure (15B410). #goldencareagent #GTL
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Categories: Guarantee Trust Life.

“Number of seniors who need personal care help increasing, CDC says, ” by Emily Mongan, McKnight’s LTC News

“The data, released last Tuesday by the CDC’s National Center for Health Statistics, shows 7.2% of seniors required help with activities of daily living in 2015, compared to 6.6% in 1997.  The report included eating, bathing, dressing and getting around as personal care needs. …  Seniors over age 85 were twice as likely as adults between age 75 and 84 to require personal care help, and were five times as likely as adults age 65 to 74.  The report also found 6.4% of white seniors required personal care help, compared to 9.6% of black and 11.3% of Hispanic seniors.  Click
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Categories: Industry News and Long-Term Care.

“How to Prioritize Spending in Retirement, ” by Tom Sightings, US News & World Report

“Consider purchasing long-term care insurance. It’s expensive, but could save you a lot of pain and suffering when you get older, or perhaps save your loved ones the sometimes overwhelming task of taking care of you if you become infirm.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Sound advice. How to Prioritize Spending in Retirement #goldencareagent
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Categories: Industry News and Long-Term Care.