From the Desk of Adam Walling In lieu of recent announcements, we want to assure our distribution partners that Mutual of Omaha continues to be committed to the Long Term Care Insurance market. We believe that LTCi provides value through product profitability and company diversification. The product aligns with our mission to help our customers protect what they care about and achieve their financial goals. We believe that it is a growing market with demographic tailwinds and no viable government alternative. We thank you for your continued business and look forward to another successful year. Adam Walling Producer Performance Director
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Important Notice: Discontinuance of Individual LTC Insurance Sales
November 10, 2016 To our LTC Distribution Partners and Producers: After a recent analysis of the macro-economic trends facing the long-term care (LTC) insurance industry, we have made the difficult decision to discontinue sales of our individual LTC insurance policies in all states. As many of you well know, the distribution landscape for LTC insurance has shrunk significantly since the peak of the industry in 2002. Today, there are far fewer outlets through which individual LTC insurance is sold, impacting the growth potential of the product. In addition, consumer demand for individual LTC insurance has fallen and remains stagnant. These
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Medicare Supplement News – Omaha Family of Companies
Check out our Informational Presentations Looking for some additional information regarding our Medicare Supplement product line? We now have short informational presentations on a variety of topics including product basics, taking applications, marketing, rewards and support. High Deductible Plan F and Plan N Effective Nov. 12, 2016, we’re expanding our product portfolio to include both these Plans in Colorado, Louisiana, Maryland, and Vermont. Upcoming Rate Adjustments Please review information on upcoming rate adjustments in FL and MO. • 2010 Modernized Rate Adjustment – FL • Plan N Rate Adjustment – FL • 1990 Standardized Rate Adjustment – FL and MO
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Correction: Medicare Supplement Insurance Premium Rate Changes
Transamerica Premier Life Insurance Company will be implementing Medicare Supplement insurance premium rate changes for new sales and inforce policies in New Hampshire and Oregon. State Plan Adjusted Percentage Upload Date New Rate Effective Date New Hampshire A, F G N 0% unchanged 5% decrease 18% decrease 11/9/2016 1/1/2017 Oregon A, F, G, N 4.6% increase 11/16/2016 2/1/2017 Three Scenarios to consider Applications submitted and placed prior to new rate upload date with any future effective date will receive the current rates for the first year and then will receive the rate change at the
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Sentinel Plan Health Products
Important AEP New Business Tips ATTENTION AGENTS! With AEP already upon us, below are a couple of commonly missed items that will keep an application from going through underwriting. Effective Date Draft Date Client Phone Number Health Information Card (HIC) Number Additionally, Sentinel will draft upon receiving the application unless you instruct otherwise. A policy cannot be issued until premium is drafted. New Application Packet for Illinois We have revised our Illinois application packet to include specific information regarding the Household Discount (HHD) that is available for Select Plans only. You may click on the link below to
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Month End Commission Payments
In order for our Accounting Department to balance the books and close out each month there have been additional commission payouts that you may have noticed in your account, starting as early as July. The extra payout occurs on the 1st business day of each month with funds showing up in your account 1-2 business days after. This payout includes commissions on policies issued with premium applied in the prior month that was not previously paid. Please contact our Commissions Department in you need further explanation or have questions. Special Commission Payment In Observance Of Veteran’s Day Commission payments
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Congress Declares November as Long Term Care Awareness Month
by Matt Sussman, Senior Director of Business Development Is it ironic that we share this awareness month with the National Alzheimer Disease Month, Lung Cancer awareness month, or Pancreatic Cancer awareness month? Cognitive issues and cancer are two major reasons someone may need to utilize long term care. We also share this month with National Home Care and Hospice month, National Family Caregiver month and the 41 other November monthly Observations. What makes this month so special to us (long term care insurance agents), is that we get to be a part of it. We also get to be part
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Additional States Approve EssentialLTC
National Guardian Life Insurance Company (NGL) is pleased to announce the availability of their new long-term care insurance plan, EssentialLTC, in additional states. Watch for additional announcements as more states approve the new EssentialLTC product. #goldencareagent #NGL
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“Seniors Suffer Amid Widespread Fraud by Medicaid Caretakers,” by Kaiser Health News
“An Alaska man developed gangrenous toes. A Philadelphia woman froze to death on the street. An Illinois woman died emaciated, covered in excrement. These patients suffered as their government-paid caretakers neglected them, collecting paychecks under a Medicaid program that gives elderly and disabled people non-medical assistance at home. In some cases, the caretakers convicted of neglect were the victims’ own family members. The Personal Care Services program, which exceeded $14.5 billion in fiscal year 2014, is rife with financial scams, some of which threaten patient safety, according to a recent report from the Office of lnspector General at the U.S.
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“Senate Committee Floats Idea of New Medicare Code for Alzheimer’s Planning,” by Argentum
“Senate Finance Committee staff have issued a draft of legislation to address chronic care issues (PDF), which includes asking for a report to Congress to inform the development of a Medicare payment code for creating a long-term care plan for a beneficiary diagnosed with a life-threatening illness such as Alzheimer’s disease.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): One more step in the direction of expanding Medicare to cover long-term care. Senate Committee Floats Idea of New Medicare Code for Alzheimer’s Planning #goldencareagent
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