“Meet Your Friends Who Get Medicaid”

“Meet Your Friends Who Get Medicaid” by Phil Galewitz, NPR “When older middle-class Americans deplete their savings to pay for costly nursing home care, Medicaid offers coverage. The United States has become a Medicaid nation. Although it started as a plan to cover only the poor, Medicaid now touches tens of millions of Americans who live above the poverty line.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): If the first sentence were true, more people would plan for long-term care and stay off Medicaid. Because it’s false, we’re in the mess we’re in. Meet Your
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Categories: Industry News and Long-Term Care.

GoldenCare Newsletter | September 25, 2017

In this GoldenCare Newsletter Edition From GoldenCare: See our full list of hot training topics and register for an event today! We have two Guest Articles in this edition is “How to cope with health care costs in retirement,” by Steve Vernon, CBS MoneyWatch and “Census Bureau: Most seniors still own homes,” by Lois A. Bowers, McKnight’s Senior Living. Enjoy! Industry Updates: We have several announcements in this edition: From Mutual of Omaha: We have a Quick Tip on quoting with MutualCare Solutions software. Flexible payment form update – all application packets have not been updated, except for New York for
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Categories: GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Mutual of Omaha (& Affiliates), National Guardian Life, Securian, and Transamerica.

Genworth 2017 Annual Cost of Care Survey:

Costs Continue to Rise Across All Care Settings 09/26/17 Two-thirds of Americans assume government will partially or fully pay for long term care services RICHMOND, Va., Sept. 26, 2017 /PRNewswire/ — For the 70 percent of people older than 65 who the experts say will need long term care at some point in their lives1, the costs just notched up again. According to the Genworth 2017 Cost of Care Survey released today, the annual median cost of long term care services increased an average of 4.5 percent from 2016 to 2017, the second-highest year-over-year increase for nursing homes and home
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Categories: Genworth, Industry News, and Long-Term Care.

December 15, 2017: Deadline for Long Term Care New Business Requirements

As the year comes to a close, to optimize your 2017 placed production, please keep in mind the year-end cutoff for new business is December 15, 2017. Genworth’s final commission cycle will be on December 22, 2017 for all Long Term Care Insurance. Requirements for Final Commission Payment All delivery requirements must be received by December 15, 2017 Applications must be “In Good Order,” which is defined as but not limited to: All application and suitability questions answered All signatures and dates completed All requested information provided All regulatory forms completed accurately and received by Genworth All initial and additional
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Categories: Genworth, Industry News, and Long-Term Care.

Genworth’s 2017 Commission Year-End Pay Schedule

The last commission payment processing cycles for 2017 are: Fixed life and fixed annuities – Friday, December 22nd, 2017 Long term care insurance – Friday, December 22nd, 2017 Variable life and variable annuities – Friday, December 22nd, 2017 Final commission payments will also include earned commissions that have not previously met the $50 minimum check amount. For this final payment only, the minimum amount is $.01. Genworth is closed for the holidays on Friday, December 22nd, Monday, December 25th, and Monday, January 1st. Commission payments will be distributed as follows: Daily EFT and DTCC(NSCC) Fixed life/fixed annuities – Tuesday, December
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Categories: Genworth and Long-Term Care.

Commissions: 1099-MISC 2017 Tax Information

Important information about 1099-MISC (miscellaneous income) tax forms: A 1099-MISC will be filed for each person who is paid at least $600 in commissions in 2017. This includes all product lines. Some payments are not required to be reported on this form, although they may be taxable to the recipient. For example, commissions paid to a corporation are not required to be reported via a 1099-MISC. Access your 1099-MISC statement faster by going paperless before December 31, 2017! 1099-MISC statements will be available electronically to all Producers currently receiving 1099-MISC statements and those who are registered users of Genworth.com/Pro. By
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Categories: Genworth and Long-Term Care.

New! 2017 Cost of Care

2017 Cost of Care The new 2017 survey results will be released on September 26, 2017. The Genworth Cost of Care Study is one of the industry’s most comprehensive cost evaluations of more than 43,000 long term care providers across 440 cities and regions. For over 14 years, the national study has played an effective role in helping financial professionals map out a plan for their clients long term care needs. Get started today, learn more at Genworth.com/COCpro. Features and Tools Cost by Period 5 Year Compound Annual Growth Cost Comparison by Location Future Care Cost Downloadable Interactive Map IOS
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Categories: Genworth and Industry News.

LTCi Underwriting Update for October 2017

In an effort to increase customer satisfaction with a Long-Term Care policy issued by Mutual of Omaha and align ourselves with other Mutual of Omaha Underwriting Departments, we plan to implement a new process effective October 1, 2017. Effective October 1, 2017, when a case has been approved, other than applied (except for a better rate), underwriting will reach out to the producer via email and inquire whether the producer will be able to place the policy with the rate and benefit changes (if any) proposed by underwriting. Underwriting will hold the policy for 14 calendar days for the producer
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

United Security: E-Apps Released in Additional States

Great news! We have released our e-apps in additional states. The e-apps are offered only with our LifeStyle Solutions and LifeStyle Solutions Select insurance plans and are now available in the following states: Arizona Colorado Georgia Illinois Indiana Louisiana Oklahoma Pennsylvania Texas Stay tuned, as we continue to roll-out our e-apps in more states soon. Questions? Please contact United Security’s Marketing Team at 800-872-3044.   #goldencareagent #unitedsecurity >   Related: United Security Assurance: New Electronic Applications
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Categories: Long-Term Care and United Security.

United Security Licensing Procedural Change

United Security Assurance has changed their internal procedures for agents who have terminated their current heirarchical relationship and wish to get licensed directly with us.1 Here’s how the change could affect you: If you have not submitted any new business for a period of 6 months or more, you are no longer required to submit a release letter and can be reappointed under a new heirarchy If you have produced new business during the past 6 months, then you are required to submit a release letter If you have any questions, please feel free to contact United Security’s Marketing Department
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Categories: Industry News and United Security.