In-Force Rate Action Announcement: Michigan AARP (Privileged Choice®)

> Privileged Choice® with Stable Premium Option > 1% Benefit Increase Option 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 AARP Product Series Increase Percentage Privileged Choice 20.9%   This rate increase applies to 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 January
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Kansas (PCS I, PCS II, Choice 1)

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. Kansas has now allowed the following increases: Kansas Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS I 55% 72% PCS II 55% 72% Choice 1 55% 72%   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 January
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Oklahoma (Pre-PCS, PCS I, PCS II)

> PCS II with Stable Premium Option 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 for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 0% 32.25% phased 15%, 15% cumulative PCS I 32.25% phased 15%, 15% cumulative 32.25% phased 15%, 15% cumulative PCS II 15% 15%   Communications Timeline Servicing agents will receive a list of their impacted
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Georgia (Privileged Choice® and Classic Select®)

> Privileged Choice® and Classic Select® with Stable Premium Option > 1% Benefit Increase Option 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 increases: Georgia Product Series Increase Percentage Privileged Choice 12% Classic Select 12%   This rate increase applies to 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
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Arkansas (PCS II)

> PCS II with Stable Premium Optionn 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 increases: Arkansas Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods PCS II 25% 25%   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 December 17,
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Idaho (Pre-PCS, PCS I, PCS II, Choice 1)

> Choice 1 with Stable Premium Option 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. Idaho has now allowed the following increases: Idaho Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 10% 30% PCS I 10% 25% PCS II 10% 20% Choice 1 15% 20%   Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Idaho (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. Idaho has now allowed the following increases: Idaho non-AARP Product Series Increase Percentage Privileged Choice 15% Classic Select 15%   Idaho AARP Product Series Increase Percentage Privileged Choice 15%   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 December 3, 2019 and will continue throughout the
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Categories: Genworth, Industry News, and Long-Term Care.

Good News | Genworth’s 2019 Annual Cost of Care Survey Now Available

Genworth’s 2019 Annual Cost of Care Survey Now Available For 16 years, Genworth has tracked the cost of care nationwide to help families understand long term care costs, viewed as one of the industry’s most comprehensive cost evaluations. The 2019 findings were announced last week. “The fastest-rising long term care costs are no longer for the most skilled care — in a facility, they’re now for the least-complex care — at home.” To explore Cost of Care data by city, state or zip code, find trend charts and access lists of states ranked in order of care costs, click below:
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Categories: Genworth, GoldenCare News, Industry News, and Long-Term Care.

Genworth Cost of Care Survey 2019 – Announced Today

Genworth Cost of Care Survey 2019: Skyrocketing care costs may make the dream of aging at home more challenging Richmond, VA (October 16, 2019) — The fastest-rising long term care costs are no longer for the most skilled care – in a facility, they’re now for the least-complex care – at home, according to Genworth’s latest 2019 Cost of Care Survey results, announced today. To explore Cost of Care data by city, state or zip code, find trend charts and access lists of states ranked in order of care costs, visit www.genworth.com/costofcare. The cost of homemaker services, which includes assistance
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Washington (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. Washington has now allowed the following increases: Washington Product Series Increase for Policies with Limited Benefit Periods Increase for Policies with Lifetime Benefit Periods Pre-PCS 27.2% 27.2% PCS I 30% 30% PCS II 30% 30%   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
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Categories: Genworth, Industry News, and Long-Term Care.