“COVID-19 Helped Long-Term Care Insurers in 2020: Fitch”

“COVID-19 Helped Long-Term Care Insurers in 2020: Fitch,” by Allison Bell, ThinkAdvisor   “COVID-19 ended up giving U.S. long-term care insurance (LTCI) earnings a big boost in 2020, according to analysts at Fitch Ratings. Jamie Tucker and David Gorak, the analysts, write in a new commentary that low interest rates continued to hurt LTCI issuers’ investment earnings, but that the pandemic helped, by increasing LTCI insureds’ mortality and reducing the number of new claims. Thanks to the pandemic, U.S. insurers reported a total of $241 million in net operating gains from LTCI in 2020, up from a net operating loss
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Categories: Clippings, COVID-19, and Industry News.

Reminder: Now Conducting Virtual Assessments for LTCi

Throughout the pandemic, Mutual of Omaha has been evaluating our underwriting and new business practices in efforts to support business continuity, deliver a high level of service and maintain our financial strength. As a result, your LTC Underwriting team is temporarily completing virtual assessments for applicants age 65 and over with favorable medical records. Virtual assessment qualification parameters will be based on underwriter discretion. Minimum requirements for consideration: Applicants age 65 and over with favorable medical records. * Applicants with any blood pressure, build and mobility concerns will not qualify for a virtual assessment. What is required to successfully complete
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Categories: COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

It’s Official! Cracking Open GoldenCare’s Coronavirus 6-Pack

Register for our short Friday demo! Long-Term Care insurance was designed to help individuals remain in their home. These products are the much-needed solution for your clients to stay OUT of the Nursing Home! Our 6-pack includes: • LTC Expert Insights • Coronavirus/LTC Articles • LTC White Paper • Underwriting Ramifications • Sales Script • Conversation Starters       Click Here to add additional carriers & products to your appointments. Questions? Call our Marketing Team at 800-842-7799! Don’t forget to subscribe to our News Digest for all the latest announcements from the Top Carriers! Check out GoldenCare News #goldencareagent
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Categories: COVID-19, GoldenCare News, Industry News, and Long-Term Care.

“COVID Cases, Deaths Plummet in Nursing Homes After Vaccine Rollout”

“COVID Cases, Deaths Plummet in Nursing Homes After Vaccine Rollout,” by Robin Foster and Ernie Mundell, HealthDay   Quote: “In a hopeful turnaround during a long pandemic, U.S. nursing homes that were once the epicenter of coronavirus infections are now seeing both cases and deaths fall steeply as the country’s vaccination rollout starts to take hold. … The downward trend in deaths was even more heartening: Even as fatalities spiked overall this winter, deaths inside nursing homes have dropped by more than 65 percent.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Turning the corner.  
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Categories: Clippings, COVID-19, and Industry News.

“Why Some ‘Super Ager’ Folks Keep Their Minds Dementia-Free”

“Why Some ‘Super Ager’ Folks Keep Their Minds Dementia-Free,” by Amy Norton, HealthDay   Quote: “Researchers may have uncovered a key reason some people remain sharp as a tack into their 80s and 90s: Their brains resist the buildup of certain proteins that mark Alzheimer’s disease. The study focused on what scientists have dubbed ‘super agers’ — a select group of older folks who have the memory performance of people decades younger. Compared with older people who had average brain power, super agers showed far less evidence of ‘tau tangles’ in their brains, the researchers found.”   LTC Comment, Stephen
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Categories: Clippings, COVID-19, and Industry News.

“As Nursing Homes Lose Patients to Home Health During COVID, Past Shifts Show Path Forward”

“As Nursing Homes Lose Patients to Home Health During COVID, Past Shifts Show Path Forward,” by Alex Spanko, Skilled Nursing News  Quote: “The size and permanence of a COVID-era shift to home health has emerged as a top metric to watch in post-acute and long-term care in 2021. … On the flip side, investment analysts and top real estate investment trust (REIT) landlords are banking on a return to normal patient volumes as they look for any signs of financial tailwinds for the year ahead.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Are we “rebalancing” or
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Categories: Clippings, COVID-19, and Industry News.

“MA Members Could See High Out-of-Pocket Costs For COVID-19”

“MA Members Could See High Out-of-Pocket Costs For COVID-19,” by Hannah Nelson, HealthPayerIntelligence  Quote: “High out-of-pocket costs may dissuade some Medicare Advantage beneficiaries from seeking COVID-19 care as payers eliminate cost-sharing waivers, according to a new American Journal of Preventive Medicine study that calls for legislation to mandate insurers cover hospitalizations from the virus. While most payers currently cover COVID-19 hospitalization costs in full for Medicare Advantage (MA) beneficiaries, some insurers have started to roll back cost-sharing waivers, which may suggest that coverage for COVID-19 hospitalizations is on its way out.”   LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: Sure, if the government
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Categories: Clippings, COVID-19, and Industry News.

COVID tax questions

The Consolidated Appropriations Act (“CAA”) provided coronavirus relief as well as other tax related extensions that will affect your clients. Here are some highlights that relate to individuals. Stimulus checks are back. The amount is $600 per taxpayer and $1,200 for married persons filing jointly along with $600 for each qualifying child. Income limits vary upon marital status. Teachers and instructors who teach grades K-12 are allowed a $250/$500 (Single/MFJ) above the line deduction to allow for the purchase of personal protection equipment and disinfectant. The above the line deduction for $300 of charitable gifts is extended into 2021. There
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Categories: COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

“One of Ten in U.S. May Have to Switch Occupations Post Pandemic”

“One of Ten in U.S. May Have to Switch Occupations Post Pandemic,” by Rich Miller, Bloomberg  Quote: “One out of every ten U.S. workers — about 17 million, all told — will likely be forced to leave their jobs and take up new occupations by 2030 as Covid-19’s after-effects destroy huge swathes of low-paying positions in a labor market that was primed for disruption before the pandemic. Women, minorities, the young and the less educated will probably be the hardest hit by what consultant firm McKinsey & Co. foresees in a new report as an unprecedented hollowing out of low-wage work in
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Categories: Clippings, COVID-19, and Industry News.

“The situation is dire’: Provider group seeks $5 billion in COVID relief for senior living”

“‘The situation is dire’: Provider group seeks $5 billion in COVID relief for senior living,” by Lois A. Bowers, McKnight’s Senior Living   Quote: “The next COVID-19 relief package from the federal government must include $5 billion in funding for assisted living, independent living, memory care and continuing care retirement communities to help with personal protective equipment, staff and testing needs, Argentum said Friday. … To date, assisted living providers have been promised $3 billion, or 1.7%, of the total Coronavirus Aid, Relief, and Economic Security (CARES) Act Provider Relief Fund, and have received even less, Argentum said. By comparison,
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Categories: Clippings, COVID-19, and Industry News.