Medicare Supplement 5% household discount coming to MD

Aetna will begin offering a 5% household premium discount on individual Continental Life Insurance (CLI) Medicare Supplement plans issued in Maryland, starting June 8, 2016. The new discount will apply when two Medicare Supplement applicants reside (12 months or more) in the same household and when both policies are issued in the same state by an Aetna underwriting company. Sales materials have been revised to include a new dual application form and outline of coverage. These new materials and the E-App tool will be available on the agent side of aetnaseniorproducts.com on June 8, 2016. NOTE: All new Maryland CLI
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Categories: Aetna and Medicare Supp./Adv..

In-Force Rate Action Policyholder Communication Update

We’ve enhanced our communication approach to policyholders for upcoming rate actions and want to preview those changes with you. Starting with new rate increase implementations in June, policyholders impacted by a premium increase will receive a new premium increase notification letter designed to help your clients better understand the options available to them. Included in each policyholder notification are some benefit change options designed to mitigate the premium increase. If the policyholder would like to modify their benefits in the manner suggested on the form, they can select the adjusted benefit option of their choice, sign the form and return
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Categories: Genworth and Long-Term Care.

“Report: Chronic diseases to drive growth in skilled nursing market,” by Emily Mongan, McKnight’s LTC News

“A skilled nursing industry analysis, released Wednesday by Transparency Market Research, pinpoints chronic diseases such as dementia and an overall aging population to be two of the biggest drivers of the market in the coming years. That growth may be stunted, the report notes, due to factors such as ‘soaring’ care costs and stigmas surrounding residential nursing care.  …  Click here to see a preview of the Transparency Market Research report.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Home care will never fully replace nursing homes for custodial care, but growing costs of both will
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Categories: Industry News and Long-Term Care.

“Fresh Approaches to Paying for Long-Term Care,” by Mark Miller, Morningstar

“Long-term care is a wild card in the deck for any retirement plan. Half of all Americans develop a disability at age 65 or older that is serious enough to need long-term care, and one in six will spend at least $100,000 out of pocket for care, federal data shows. The financial risk is real, but our current system of insuring that risk is a mess. Don’t even call it a system–what we have is a patchwork of private insurance that hasn’t penetrated the market widely, and an inadequate public social insurance safety net.” LTC Comment (from Stephen A. Moses,
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Categories: Industry News and Long-Term Care.

“The Hidden Risks of Those Popular Medicare Advantage Plans,” by Philip Moeller, Money

“Should you jump in too? My advice is to take a “buyer beware” approach. Medicare Advantage (MA) plans deserve a serious look, since you can save money without sacrificing insurance protection. But some plans have some serious pitfalls, so you need to look at the fine print before you sign up.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Wise to be aware of what MA and Medi-Gap prospects are reading in Money. The Hidden Risks of Those Popular Medicare Advantage Plans #goldencareagent
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Categories: Industry News and Medicare Supp./Adv..