Medicare Supplement News – Omaha Family of Companies

Upcoming Rate Adjustments View upcoming rate adjustments in the following states: Connecticut, Georgia, North Carolina, North Dakota, Tennessee, Texas, West Virginia, and Wyoming.       • 2010 Modernized Rate Adjustment– Wyoming       • 1990 Standardized Rate Adjustment– Connecticut, Georgia, North Carolina, North Dakota, Tennessee, Texas, West Virginia, and Wyoming #goldencareagent
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Categories: Medicare Supp./Adv. and Mutual of Omaha (& Affiliates).

“It’s official: Millennials have surpassed baby boomers to become America’s largest living generation,” by Travis M. Andrews, Washington Post

“Pew Research Center broke down population estimates released this month by the U.S. Census Bureau.  For this exercise, the millennial generation included anyone who was 18 to 34 years old in 2015.  Therefore, the oldest millennial was born in 1981 and the youngest in 1997.  By that definition, there are now 75.4 million living millennials, which is a half-million more than the 74.9 million living baby boomers, who were defined as anyone who was 51 to 69 years old in 2015.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): When I still worked for the government,
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Categories: Industry News.

Transamerica: Adjustments Made to Military Sales Practice Disclosure

Sales & Marketing Special Update Adjustments Made to Military Sales Practice Disclosure Effective April 22, 2016, the following Military Disclosure form will be updated in all states and will be made available on all essential websites. With this change, a new form will replace the previous disclosure forms as listed below: Old Disclosure Form New Disclosure Form Effective 4/22/2016 DISMSP0612 DIS11541008T MIL-129 U00265 DISMSP0515   The iGO e-App will show the new disclosure form on April 23, 2016. Transition Rules There will be a 30-day transition period. The old forms will be accepted by new business, if received prior to
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Categories: Industry News, Life Insurance, and Transamerica.

Update: CareDirections Simplicity® Rate Increase Action Implementation In MI & SD

As you are aware, MedAmerica is currently in the process of raising rates on the CareDirections Simplicity® product line. This rate action does not affect Simplicity ii. This notice is to inform agents that they have received approval from Michigan & South Dakota, and are implementing the rate increase activity in those 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 April 29, 2016. Following the state required notification timeframe, the new premium amount will be effective as of the insured’s next billing date.
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Categories: Long-Term Care and MedAmerica.

Update: Simplicity ii Rate Increase Action In Maine & West Virginia

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 Maine & West Virginia, 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 April 29, 2016. The new premium amount will be effective as of the insured’s next billing date, following the state required notification
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Categories: Long-Term Care and MedAmerica.

Kentucky Advisory Opinion 2016-02 – Alternative Compensation

The Commonwealth of Kentucky has issued Advisory Opinion 2016-02 to clarify inquiries received by the Kentucky Department of Insurance (KY DOI) regarding the effect of KRS 304.11-042 (The Statute titled “Disclosure agreement for compensation received by an agent from an insurer or client for placement of insurance and service rendered to client”.), which was enacted in 2008. This Advisory Opinion provides the following information: KRS 304.11-042 does not authorize the sharing of any portion of an agent’s commission with a “client”. Agents may not rebate to the “client” any portion of the agent’s commission. An agent may not provide any
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Categories: Genworth and Industry News.

In-Force Rate Action Announcement: Maryland

In August 2012, we announced our intention to seek premium rate increases on certain blocks of comprehensive long term care insurance policies, including Pre-PCS, PCS 1, PCS II, and Choice 1. During the course of 2012-2014, we implemented rate increases on these blocks of business. In some states, the full requested increase was not received. Genworth began submitting requests in these states during the second half of 2014. Approvals had been received in a number of these states, including Maryland. And Genworth is now beginning to implement the third round of increases, as indicated in the chart within the announcement.
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Categories: Genworth and Long-Term Care.

“Medicaid Managed Care Rule Changes To Impact Long Term Care,” by Blair Jackson, Provider

“Skilled nursing care centers rely heavily on Medicaid to pay for the services they provide to most of their patients – approximately 65 percent to 70 percent of nursing center residents are covered by Medicaid. ‘Currently, the rates paid by states for Medicaid-covered services do not adequately reimburse the actual costs incurred by providers, resulting in a major disconnect between payment levels and the needs of the patients,’ says Narda Ipakchi, director of managed markets for the American Health Care Association/National Center for Assisted Living (AHCA/NCAL). ‘Already in Medicaid fee-for-service, provider rates are inadequate. Under managed care, plans often seek
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Categories: Industry News and Long-Term Care.

“New Overtime Rules May Put Squeeze On Caregivers For Those With Disabilities,” by Yuki Noguchi, NPR

“In coming weeks, the White House is expected to finalize key new rules on overtime pay that could benefit an estimated 6 million lower-paid salaried workers. Workers’ advocates say it’s a long-awaited change. Most employer groups vocally oppose the new rules, because they might have to raise their minimum salaries, pay overtime — or limit their workers’ hours.  …  ANCOR [the American Network of Community Options and Resources] doesn’t oppose the rules, because it wants to pay its workers more. At the same time, member employers won’t be able to comply with the rules, because their revenue relies on Medicaid
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Categories: Industry News.

GTL’s New Advantage Plus Now Approved In OH, OR & PA

Great News … GTL’s New Advantage Plus is Now Approved for Sale in Ohio, Oregon, and Pennsylvania! This week, Guarantee Trust Life (GTL) is pleased to announce that Ohio, Oregon, and Pennsylvania have been added to the list of approved states. What’s new about Advantage Plus in OH, OR &anp; PA? GTL added a 3-day and 6-day benefit period, created a new Dental/Vision rider (not available in OR) and a new Short Duration Hospital Stay rider! Also, the cancer coverage is now a rider on Advantage Plus and includes a skin cancer benefit. The new Advantage Plus is now available
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Categories: Guarantee Trust Life and Hospital Indemnity Plan.