“Elderly Americans Plagued By Fraud, Survey Finds,” Advisor Magazine “As millions of Americans retire over the next decade, financial crimes and abuse against the elderly are occurring at an alarming rate, according to the results of a survey released today by the Cooperative Credit Union Association (CCUA), a trade group representing not-for-profit credit unions. . . . Sixty-seven percent of those identifying themselves as a caretaker reported an elder being targeted with fraud; more than a quarter of elders, at 28%, had also fallen victim to at least one financial scam.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
Read More
“How Can We Keep People Out of Nursing Homes?”
“How Can We Keep People Out of Nursing Homes?,” by Emily Gurnon, Next Avenue “If you are hospitalized at age 65 or older, there is a one in five chance you will be discharged to a nursing home. If you’re lucky, your stay in the nursing home will be relatively short — fewer than 100 days. Whether or not that happens, however, may depend on the state you live in. Certain states — like Minnesota, Maine, Oregon and Connecticut — have implemented policies that lower the chances of getting ‘stuck’ in a nursing home, said Wendy Fox-Grage, a senior strategic
Read More
In-Force Rate Action Announcement: Washington DC (PCS II)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Washington DC has now allowed the following increase: Washington DC Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS II 10% 10% This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Oklahoma (Pre-PCS, PCS I, PCS II)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Oklahoma has now allowed the following increase: Oklahoma Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 10% 10% PCS I 10% 10% PCS II 10% 10% This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Arkansas (Pre-PCS, PCS I, PCS II)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Arkansas has now allowed the following increase: Arkansas Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 25% 25%% PCS I 25% 25% PCS II 25% 25% This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Washington DC (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Washington DC has now allowed the following increase: Washington DC Product Series Increase Percentage Privileged Choice 10% Classic Select 10% This rate increase applies to both AARP and Non-AARP policies. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin October 24, 2017 and will continue
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: South Carolina (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. South Carolina has now allowed the following increase: South Carolina Product Series Increase Percentage Privileged Choice 20% Classic Select 20% This rate increase applies to Non-AARP policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin October 24, 2017 and will continue throughout the
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Pennsylvania (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Pennsylvania has now allowed the following increases: Pennsylvania Non-AARP Product Series Increase Percentage Privileged Choice 36.4% phased 16.8% / 16.8% compounded Classic Select 36.4% phased 16.8% / 16.8% compounded Pennsylvania AARP Product Series Increase Percentage Privileged Choice 45.2% phased 20% / 21% compounded Classic Select 45.2% phased 20% / 21% compounded Communications Timeline Servicing agents will receive a list of their impacted
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Mississippi (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Mississippi has now allowed the following increases: Mississippi Non-AARP Product Series Increase Percentage Privileged Choice 13.5% Classic Select 13.5% Mississippi AARP Product Series Increase Percentage Privileged Choice 12.4% Classic Select 12.4% Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin October 24, 2017
Read More
Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Georgia (Privileged Choice® and Classic Select®)
As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Georgia has now allowed the following increase: Georgia Product Series Increase Percentage Privileged Choice 20% Classic Select 20% This rate increase applies to both AARP and Non-AARP policies. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will begin October 24, 2017 and will continue throughout the
Read More
Genworth, Industry News, and Long-Term Care.
