“Latest Alzheimer’s Flop Raises Doubts About ‘Amyloid Hypothesis’,” by Arlene Weintraub, Forbes “Even after Eli Lilly announced that its experimental Alzheimer’s drug solanezumab had failed in clinical trials in late 2016, it continued investigating its potential in patients at the very earliest stages of the memory-stealing disease. The hope was that if the drug could eliminate soluble amyloid-beta—the protein blamed for the brain plaques that form in patients—Alzheimer’s progression might be stopped, or at least slowed significantly. “That hope has now been dashed. New data from a trial called Expedition3, published in the New England Journal of Medicine, does not
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“GE is under SEC investigation”
“GE is under SEC investigation,” by Matt Egan, CNN Money “GE (GE) said on Wednesday that regulators are investigating a $6.2 billion insurance loss that the company revealed last week. The disclosure is a new and potentially much more serious problem for a company already reeling from missteps and questionable management decisions. The SEC is also investigating the company’s accounting, chief financial officer Jamie Miller told analysts during a conference call. Specifically, she said the agency is looking into “revenue recognition and controls” for the company’s long-term service agreements.” LTC Comment (from Damon V. Moses, President, Administrative Coordinator): Here’s the
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CMS Has Announced The 2018 Copy/Deductibles
The Centers for Medicare and Medicaid Services (CMS) recently announced their 2018 Copay/Deductibles. Listed below are basic costs for people with Medicare. 2018 Copay/Deductibles 2017 2018 Part A Deductible $1,316 $1,340 Part B Deductible $353,773 $371,462 Part A Coinsurance Days 61 — 90 $329 $335 Days 91 — 150 (Lifetime Reserve Days*) $658 $670 Skilled Nursing Home Days 21 — 100 $164.50 $167.50 Standard Part B Monthly Premium $134 $134 High Deductible Plan F $2,200 $2,240 Plan K Out of Pocket $5,120 $5,240 Plan L Out of Pocket $2,560 $2,620 Click here for the
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In-Force Rate Action Announcement: Pennsylvania (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. Pennsylvania has now allowed the following increase: Pennsylvania Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods Pre-PCS 0% 10% PCS I 7% 20% PCS II 20% 20% 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
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Michigan (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. Michigan has now allowed the following increases: Michigan Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 55% 72% PCS II 55% 72% 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
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Oklahoma (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. Oklahoma has now allowed the following increases: Oklahoma 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 February 6, 2018 and will continue throughout the
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Maine (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. Maine has now allowed the following increase: Maine Product Series Increase Percentage Privileged Choice 11.5% Classic Select 11.5% 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 February 6, 2018 and will continue throughout the next year.
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: Delaware (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. Delaware has now allowed the following increases: Delaware Non-AARP Product Series Increase Percentage Privileged Choice 25% Classic Select 25% Delaware AARP Product Series Increase Percentage Privileged Choice 20% Classic Select 20% 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 February 6, 2018
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Genworth, Industry News, and Long-Term Care.
2018 Partnership Minimum Benefit Requirements for Indiana
Each year Indiana revisits its minimum benefit requirements to qualify for its Partnership program. The Total Asset Protection for the Indiana Partnership program has increased from $353,773 in 2017 to $371,462 for 2018. The Benefit Increase Options and Daily or Monthly Minimum requirements remain unchanged as follows: Requirements 2017 2018 Minimum Total Coverage for Total Asset Protection $353,773 $371,462 Minimum Daily Benefit $115 $115 Minimum Monthly Benefit $3,500 $3,500 Benefit Increase Option age 74 and younger 5% Compound 5% Compound Benefit Increase Option age 75 and older 5% Simple 5% Simple Indiana Partnership minimum requirements are based on effective
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Genworth, Industry News, and Long-Term Care.
Accelerated Benefit Rider Materials Updated for 2018
We offer Accelerated Death Benefits for Terminal Illness and Chronic Illness which give clients an option to access a portion of their death benefit early. This money can provide a little more comfort during a difficult time or can be used to help cover the costs of long-term care. For the Chronic Illness Rider, the benefit amount is capped each year by the IRS per diem limit. For 2018, this limit has remained at $360 per day (or $131,400 for the year). The following materials have been updated to reflect the extension of the per diem limit into 2018: Accelerated
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