“The risks . . . are compounded for two spouses with a big age gap because the healthy spouse could need living expenses for many more years after the financial assets have been exhausted following long-term care costs. That makes long-term care insurance an even more valuable part of the financial plan than is the case for similar-age couples.’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Wise counsel producers might bring to the attention of age-disparate prospect couples Retirement Planning When There’s an Age Gap #goldencareagent
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“Don’t Let Long-Term Care Costs Devastate Your Retirement,” by Jared M. Elson, Kiplinger
“Can you afford $8,000 per month for care? Chances are, you’ll need it at some point. Some solutions to that pricey problem include long-term care insurance, ‘living benefits’ and annuities.’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): More positive coverage from Kiplinger Don’t Let Long-Term Care Costs Devastate Your Retirement #goldencareagent
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NGL Rate Calculator Announcement
If you have downloaded the NGL rate calculator to your iPhone or Android device and have updates scheduled to be applied automatically, there may be an error during use this week. If you do get an error, there is an easy fix! Please manually download the new rates if this happens and the issues should be fixed. (log-in required) #goldencareagent #ngl
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New Agent NGL Correspondence Portal
NGL is excited to introduce the NEW agent NGL Correspondence Portal on MyNGLIC.com Beginning May 1, 2017, you will have access to the new NGL Correspondence Portal on MyNGLIC.com. The NGL Correspondence Portal will supply you access to your policyholder carbon copy correspondence instead of receiving mailed paper documents. Notifications of your correspondence will be set to the style and frequency of “Email Daily/Fax None.” At any time, you are able to conveniently update your notification style (Email/Fax) and frequency (Daily, Weekly, Monthly) in your MyNGLIC.com profile settings. An NGL Correspondence Portal guide has been created to help explain the
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Connecticut Partnership “Before You Buy” Publication
The Connecticut Partnership has released the 2017 edition of the “Before You Buy” publication. This publication must be provided to every individual applying for a Connecticut Partnership-approved long term care insurance policy. Please begin using the 2017 edition of the Connecticut Partnership “Before You Buy” publication immediately. Please discard any originals and copies you may have of earlier versions. Connecticut Partnership “Before You Buy” Publication #goldencareagent #transamerica
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“Sen. Grassley Demands Scrutiny Of Medicare Advantage Plans,” by Fred Schulte, Kaiser Health News
“Sen. Chuck Grassley (R-Iowa) wants federal health officials to tighten scrutiny of private Medicare Advantage health plans amid ongoing concern that insurers overbill the government by billions of dollars every year. . . . Grassley cited reports by the Center for Public Integrity that improper payments to Medicare Advantage plans cost taxpayers as much as $70 billion from 2008 to 2013. He said that CMS’ estimate that it had overpaid the five health plans $128 million ‘appears low and could very well be just the tip of the iceberg.’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care
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“Business is booming for Long Term Care Partners,” by Kimberley Haas, New Hampshire Union Leader
“A Portsmouth company that fills a unique niche in the insurance market is confident its services will be in demand for years to come. Long Term Care Partners on Arboretum Drive is a third-party administrator of insurance services for federal employees. Under a seven-year contract regulated by the U.S. Office of Personnel Management, LTC is responsible for the Federal Long Term Care Insurance Program, which has about 275,000 enrollees and an eligible population of 4.4 million-plus federal employees, annuitants and qualified family members. . . . Chief Executive Officer Paul Forte said Friday that working with the federal government to
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Medicare Supplement News – Sentinel Security Life
Pennsylvania Rate Increase Effective May 1, 2017 the rates in Pennsylvania will increase by 3% for all plans. Existing policies will experience a rate increase effective May 7, 2017. Letters to existing policy holders regarding the rate adjustments have been mailed from our office. You may follow the link below to download the new Outline of Coverage or go to our Producer Portal for all other product forms. Pennsylvania Outline of Coverage Below is a letter explaining the rate adjustment that is available to download or print. Pennsylvania Rate Increase Letter #goldencareagent #sentinel
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“Long-Term Care insurance facing major pricing shift,” by Michelle Singletary, Washington Post
“Rather than keeping premiums steady for several years and then having to impose huge double-digit rate hikes, Genworth, one of the largest providers of long-term care insurance, wants to be have the ability to change premiums annually, reports Forbes contributor Howard Gleckman.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The Washington Post regurgitates the Forbes column we reported in an April 6 LTC Clipping: “We May Be About To See A Big Change In How Long-Term Care Insurance Is Priced.” Kudos to Genworth for a creative approach to the premium increase problem that even this
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“Short-Term Care Insurance: An Alternative to the Long-Term Care Variety,” ElderLawAnswers
“A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance. Short-term care insurance provides coverage for nursing home or home care for one year or less. As long-term care premiums rise, short-term care insurance is gaining in popularity. This type of insurance is generally cheaper than its long-term care counterpart because it covers less time. Purchasers can choose the length of coverage they want, up to one year. According to the American Association for Long-Term Care Insurance a typical premium for a 65-year-old is $105 a month.”
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