“GAO recommends increased CMS oversight of Medicaid LTSS payment rates,” by Lois A. Bowers, McKnight’s Senior Living

“In the wake of findings detailed in a new report from the Government Accountability Office made public on Wednesday, the Centers for Medicare & Medicaid Services will take steps to ensure that states have sufficient incentives to use the billions of dollars they receive for the provision of Medicaid managed long-term services and supports.  If their payment structures are designed properly, MLTSS programs can enable states to expand community-based care and lower associated costs, the GAO said. CMS, however, does not consistently require states to report on whether those payment structures — payment rates, incentive payments and penalties — are
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Categories: Industry News.

Mutual of Omaha | Upcoming Changes to Our Life Portfolio

Mutual of Omaha is committed to providing insurance solutions to help you protect your customers and prepare them for the future. As we continue to review our product portfolio, we must make business decisions that are in the best interest of our policyholders and our company. Effective March 1, 2017, we are suspending sales of the following products: Guaranteed Universal Life Plus — designed for larger first-year premium dump-ins Guaranteed Universal Life Survivor — designed for second-to-die, survivorship sales Our individual Guaranteed Universal Life product will remain available, which is where we receive the majority of our fully-guaranteed life insurance
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Categories: Industry News, Life Insurance, and Mutual of Omaha (& Affiliates).

“New Federal rules will require home health agencies to do much more for patients,” by Judith Graham, Kaiser Health News

“Home health agencies will be required to become more responsive to patients and their caregivers under the first major overhaul of rules governing these organizations in almost 30 years. The federal regulations, published last month, specify the conditions under which 12,600 home health agencies can participate in Medicare and Medicaid, serving more than 5 million seniors and younger adults with disabilities through these government programs. They strengthen patients’ rights considerably and call for caregivers to be informed and engaged in plans for patients’ care. These are ‘real improvements,’ said Rhonda Richards, a senior legislative representative at AARP. Home health agencies
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Categories: Industry News and Long-Term Care.

Medicare Supplement News – Omaha Family of Companies

Mutual of Omaha Upcoming Rate Adjustment Please review information on upcoming rate adjustments in CA, IN, MS, OK, and MD. •  2010 Modernized Rate Adjustment – CA •  In-Force Only Rate Adjustment – MD, OK •  1990 Standardized Rate Adjustment – IN, MS supp #goldencareagent #MutualOfOmaha
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Categories: Industry News, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

“House panel marks up Medicaid planning annuity bill”, by Allison Bell, LifeHealthPRO

“Members of a House panel today voted 19-13 to endorse H.R. 181, a bill that could change how state Medicaid programs count couples’ annuities when calculating eligibility for nursing home benefits. . . . In the past, many sellers of long-term care insurance and other long-term care planning products have been strong supporters of the idea of tightening Medicaid eligibility rules. Advocates of tightening the rules say that could encourage Americans who have the financial means to protect themselves against long-term care risk to do a better job using savings and insurance to prepare.” LTC Comment  (from Stephen A. Moses,
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Categories: Industry News.

“Medicaid oversight stalled by inaccurate, incomplete data” by Emily Mongan, McKnight’s LTC News

“The data used by the Centers for Medicare & Medicaid Services to oversee the Medicaid program is often incomplete and submitted late, according to a new federal report. The Government Accountability Office questioned the data CMS uses to calculate Medicaid funding for states and review beneficiary claims in a report published Monday. It marks the second time in less than two weeks the federal watchdog has released a report scrutinizing the Medicaid program.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):  This is another problem block granting Medicaid would remove. Medicaid oversight stalled by inaccurate, incomplete
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Categories: Industry News.

Genworth Financial Announces 4th Quarter 2016 Results

Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended December 31, 2016. The company reported a net loss of $122 million, or $0.25 per diluted share, in the fourth quarter of 2016, compared with a net loss of $292 million, or $0.59 per diluted share, in the fourth quarter of 2015. The adjusted operating loss for the fourth quarter of 2016 was $137 million, or $0.27 per diluted share, compared with an adjusted operating loss of $82 million, or $0.17 per diluted share, in the fourth quarter of 2015. The company reported a net loss of $277
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Categories: Genworth, Industry News, and Long-Term Care.

Mutual of Omaha’s 93 Comdex Score: Another Indicator of Financial Strength

Mutual of Omaha’s 93 Comdex Score: Mutual of Omaha has always earned strong financial ratings from the leading rating agencies. The Comdex Score can help your agents and their clients understand what these industry ratings represent. Based on a scale of 1 to 100, the Comdex Score provides a company’s standing in relation to other insurance companies. Our Comdex Score of 93 means Mutual of Omaha’s combined financial ratings are better than 93 percent of all insurance companies operating today. Just one more reason to place your LTCi business with Mutual of Omaha.   #goldencareagent #MutualOfOmaha
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

“Making Sense Of Tough Long-Term Care Choices,” by Morey Stettner, Investor’s Business Daily

“For many advisors, helping clients plan for their potential long-term care needs requires a frank discussion about grim topics. Individuals rarely enjoy pondering what they’d do if they couldn’t feed or wash themselves and needed ongoing care, whether at home or in an assisted-living facility. Yet it’s a vital part of comprehensive financial planning and advisors often pride themselves on guiding clients through it. But reviewing the options — and taking prudent steps to safeguard against loss — can still stoke client dismay or dissatisfaction.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): I expect most
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Categories: Industry News and Long-Term Care.

Medicare Supplement Insurance Premium Rate Changes

Transamerica Premier Life Insurance Company “TPLIC” will be implementing new Medicare Supplement insurance premium rate changes for new sales and inforce policies. The policies that are impacted were originally underwritten by Transamerica Premier Life Insurance Company. The following are the states that will be impacted. State Plan Adjusted Percentage Upload Date New Rate Effective Date Alaska A, F G N 5% increase 2% increase 8% decrease 2/2/2017 4/1/2017 Delaware A, F G N 5% increase 2% increase 16% decrease 2/2/2017 4/1/2017 Idaho A, F G N 9% increase 4% increase 15% decrease 2/2/2017 4/1/2017 Maryland A, F G N 5%
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Categories: Medicare Supp./Adv. and Transamerica.