Transamerica Announces Agreement With LTCG for Administration of Long Term Care Insurance

LTCG Announcement Transamerica has entered into an agreement to transfer the service and administration of its long term care insurance business line to LTCG, an independent third party administrator in the U.S. The transaction is expected to be completed in third quarter 2019. This agreement supports Transamerica’s continued commitment to offering long term care insurance to help families protect their financial security. Customers can continue to expect dedicated service and do not need to take any action regarding these changes. All of the Transamerica employees who currently support administration for long term care and whose roles are transitioning will receive
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Categories: Industry News, Long-Term Care, and Transamerica.

Coming soon: New Aetna Contracting Tool | 2019 Medicare 101

Coming soon: A new, simpler contracting process We’re replacing our existing Allina Health | Aetna Medicare contracting system for MAPD products, nomoreforms™, with an improved tool. It’ll be available starting May 13. The new contracting tool will improve the onboarding/contracting process for new producers. (Fortunately, currently contracted producers won’t need to take any action to recontract.) In addition, the new contracting tool will: Expedite contracting process. Improve onboarding experience for new producers. Connect to the National Insurance Producer Registry (NIPR). So, you’re demographic and state license changes will automatically update in our new contracting tool. Read more about what to
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Categories: Aetna, Industry News, and Medicare Supp./Adv..

PROMO TIME! March Madness Sales Incentive Program

Earn Some Extra Cash With Our March Madness Promotion! Receive a $75 CASH Bonus for each LTC applicant you write with Mutual of Omaha between March 15th & June 30th. Plus, receive a BONUS of $25 on each one of those if it is submitted electronically! SPECIAL Bonus:  $500 Bonus for the top writing agent by placed business! For more information, call 800-842-7799 and speak with your Regional Director. Read Full Promo Details Need a leg up?   Watch Jenn Felten’s e-App Demo on how to get those apps in quickly and efficiently!   Questions? Call the GoldenCare Marketing Team at
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Categories: GoldenCare News, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Good News | SecureCare Has a Solution for Clients Who Travel the World

SecureCare’s International Benefits – Competitive Comparison Benefits Outside The United States — Many long-term care and linked-benefit products include coverage for benefits abroad – but not all coverage is created equally. In fact, when it comes to offering your clients the most robust international benefits in the industry1, Securian Financial’s SecureCare Universal Life is the product you’ve been looking for. See how SecureCare’s International Benefits stand apart from the competition. Competitive Comparison – Benefits Outside The United States For more information, call 800-842-7799 and speak with your Regional Director. Read Full Good News Article   Questions? Call the GoldenCare Marketing
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Categories: GoldenCare News, Industry News, and Long-Term Care.

“Transamerica Announces Agreement With LTCG for Administration of Long Term Care Insurance”

“Transamerica Announces Agreement With LTCG for Administration of Long Term Care Insurance,” Transamerica “LTCG will provide comprehensive third party administration services for Transamerica’s long term care insurance product line including new business, policyholder service, claims processing and care management. … ‘LTCG is fully committed to the long term care insurance industry, and continues to invest in the technology, people, and innovations in the wellness programs and provider solutions needed to demonstrate this dedication to insurers and their policyholders,’ said Peter Goldstein, CEO of LTCG. ‘We’re honored to serve Transamerica customers who are protecting their future through these long term care insurance
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Categories: Clippings, Industry News, and Long-Term Care.

“NAIFA Launches Long-Term Care Planning Center”

“NAIFA Launches Long-Term Care Planning Center,” by Allison Bell, Think Advisor “The National Association of Insurance and Financial Advisors is introducing a new long-term care (LTC) planning program today, in Chicago, at the Intercompany Long Term Care Insurance Conference. The new NAIFA Limited & Extended Care Planning Center will offer professional designation programs and other resources for insurance agents and financial advisors, NAIFA said in a center launch announcement. Carroll Golden will serve as the LECP Center’s first executive director. Golden has worked as an LTCI executive at LifeSecure Insurance Company and at Transamerica.” LTC Comment (from Stephen A. Moses,
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Categories: Clippings, Industry News, and Long-Term Care.

“Majority of Americans think government should pay for long-term care”

“Majority of Americans think government should pay for long-term care,” by Lois A. Bowers, McKnight’s Senior Living “A majority of Americans believe that the government should be primarily responsible for paying for the long-term care needs of older adults in the future but that the responsibility mainly will fall to the older adults themselves or to their families, according to the results of a poll released Thursday by the Pew Research Center. Fifty-five percent of the 2,524 people polled in December said that, 30 years from now, the government should be mostly responsible for paying for long-term care, whereas 28% said the older adults
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Categories: Clippings, Industry News, and Long-Term Care.

“LTC Hybrid Experience Looks Great: Milliman Actuaries”

“LTC Hybrid Experience Looks Great: Milliman Actuaries,” by Allison Bell, ThinkAdvisor “Many U.S. life insurers have been moving toward more sales of long-term care (LTC) benefits added to life insurance policies  or annuity contracts, and away from sales of stand-alone long-term care insurance (LTCI) policies. One question has been: Do the LTC hybrid products really produce better results for the issuers than stand-alone LTCI policies, or do the hybrid products simply free protection against long-term care risk from being associated with a product type that’s out of favor? Actuaries from Milliman Inc. have looked at a few years of early experience
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Categories: Clippings, Industry News, and Long-Term Care.

“Survey Identifies Long-Term Care Planning Resisters”

“Survey Identifies Long-Term Care Planning Resisters,” by Allison Bell, ThinkAdvisor “SOA analysts found, for example, that 46% of the oldest old survey participants said that they had had no discussions about the type of lifestyle they wanted for the rest of their lives. About 34% said they had already made plans for coping with LTC costs, and 11% said they intended to do that. But 49% said they hadn’t planned for LTC costs and were not going to plan for LTC costs. Similarly, 42% of the adult children with oldest old parents said their parents had planned for LTC costs,
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Categories: Clippings, Industry News, and Long-Term Care.

“Private LTC insurers say fewer beneficiaries using plans for nursing homes than believed”

“Private LTC insurers say fewer beneficiaries using plans for nursing homes than believed,” by Marty Stempniak, McKnight’s LTC News “Fewer people are using private long-term care insurance for subsidizing a skilled nursing facility stay, according to a new analysis. Only about 30% of claims for such plans ended with the beneficiaries in a SNF. The vast majority of LTC insurance claims both begin and end in an individual’s home, according to the American Association for Long-Term Care Insurance, which based its study on 2018 claims data from seven insurers. … About 72% of claims last year ended with the death
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Categories: Clippings, Industry News, and Long-Term Care.