“Reverse Mortgage Line of Credit Could Fund Long-Term Care,” by Jim Ludwick, Atlanta Journal Constitution

“Having as many resources as possible to cover long-term care needs is an important part of a holistic financial plan. A reverse mortgage line of credit can ensure you’ll have funds readily available at the time of need.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Yeah, RMs are the salvation for private LTC financing, but only when Medicaid stops exempting up to $828,000 worth of home equity.  When that happens—notice I say when, not if—people will start using RMs to pay for LTC at which point the world will wake up to a better idea—plan
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Categories: Industry News and Long-Term Care.

“Medicare Advantage Plans in 2017: Short-term Outlook is Stable,” by Gretchen Jacobson, Anthony Damico, Tricia Neuman, and Marsha Gold, Kaiser Family Foundation

“This spotlight analyzes publicly available data to review the Medicare Advantage plans offered in 2017, with information on including plan availability, premiums, out-of-pocket limits and other plan features: The average Medicare beneficiary will be able to choose from 19 plans in 2017, a number which has been relatively stable since 2012. The average beneficiary will be able to choose from plans offered by six firms; one-quarter of beneficiaries nationwide will have a choice of plans offered by three or fewer firms in 2017. If enrollees in Medicare Advantage prescription drug plans (MA-PDs) stay in the same plan between 2016 and
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Categories: Industry News and Medicare Supp./Adv..

“Six in Ten Older Adults Have Seen Friends Lose Financial Independence,” by Fidelity Investments, Advisor Magazine

“In fact, while only nine percent of older adults (aged 50-80) surveyed felt they’d ever lose the ability to manage their day-to-day finances, 60 percent admit having witnessed it happen to a friend or family member—and 40 percent actually helped manage their own parents’ finances.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Denial still prevails.   Six in Ten Older Adults Have Seen Friends Lose Financial Independence #goldencareagent
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Categories: Industry News.

US Holiday Telephone Solicitation Bans for the Month of January 2017

Please be aware of the following U.S. holiday telephone solicitation bans for the month of January. On Monday, January 2, 2017: Alabama, Louisiana, Mississippi, Rhode Island, and Utah prohibit unsolicited marketing calls to residents in observance of New Year’s Day On Sunday, January 8, 2017: Louisiana prohibits unsolicited marketing calls to residents in observance of the Battle of New Orleans; however, state law already prohibits telephone solicitations on Sundays On Monday, January 16, 2017: Alabama, Louisiana, Mississippi, Rhode Island, and Utah prohibit unsolicited marketing calls to residents in observance of Dr. Martin Luther King, Jr. Day On Thursday, January 19,
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Categories: Industry News and Mutual of Omaha (& Affiliates).

“The next healthcare crisis: Changes in way Medicare pays doctors,” by Pawan Grover, M.D., New York Daily News

“Medicare traditionally pays doctors a fee for service. You see a doctor who performs a procedure or service. The doctor bills Medicare and is paid a set fee. MACRA flips that to where the doctor or hospital’s payment is based on the success of the treatment. The intent of the law is good, but it’s not well thought out. “As a consequence of not thinking this through, the law can have significant unintended consequences, such as: Mass exodus of doctors from Medicare resulting in worsening of the doctor shortage crisis. Create incentives for over prescribing of pharmaceutical medications. Worsening of
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Categories: Industry News.

MedAmerica to Cease Email Communications

Effective immediately, MedAmerica will no longer distribute agent communications via email. Given our change in strategy, we have determined that the resource required to maintain an email system and database is significantly greater than the demand for this form of communication. Going forward, agent communications will continue to be posted via the agent portal on the MedAmerica website. We recommend you login to the website at least monthly to check for important news and review your commission statements. If you have any questions about this change in policy, please contact MedAmerica Agent Services at 800.724.1582. MedAmerica to Cease Email Communications
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Categories: Industry News and MedAmerica.

“NAIC seeks long-term care insurer insolvency comments,” by Allison Bell, LifeHealthPRO

“The Financial Condition Committee recently approved a set of 2017 charges that call for the working group to ‘evaluate and consider long-term care … insurance and the impact of (long-term care) insurer insolvencies on the Life and Health Insurance Guaranty Association Model Act (Number 520),’ according to a meeting summary report.  …  Some have suggested that long-term care insurer insolvencies may be of interest to health insurers as well as to long-term care insurance issuers, because some states treat long-term care insurance as a health product and make health insurers share in the cost of helping failed long-term care insurance
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Categories: Industry News and Long-Term Care.

2016 Year in Review

We have seen many changes in 2016, but one thing has remained constant, our commitment to long term care (LTC) insurance. Over the past year we have made significant investments and improvements that benefit consumers and our distribution partners. We made LTC insurance: More accessible Expanded allowable medical conditions Implemented Count Offers for qualifying conditions previously declined More affordable Launched Element℠, a prepackaged LTC insurance solution that is easy to sell for producers and provides meaningful benefits at affordable prices for your clients Check out this new Video to see what Element is all about   Easier and faster Discontinued
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Categories: Genworth and Industry News.

GoldenCare Newsletter | December 19, 2016 Edition

From GoldenCare: Ring in 2017 with our End-Of-Year Grand Finale!  Catch up on all the moves, shake-ups and changes that happened in 2016 and get a jump on your success in 2017. Reserve your seats: Wed, Dec 28, 2016 10:00 AM  to  10:30 AM CST Thurs, Dec 29, 2016 2:00 PM  to  2:30 PM CST Our Guest Article is “The Tax Benefits of Long Term Care Insurance” by Maryalene LaPonsie, U.S. News and World Reports.   Enjoy! Minnesota Life / Securian now has Client Videos on YouTube!  See the newsletter to check out some of their most popular videos. GTL has
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, John Hancock, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Holiday Closure, Dec. 26

The Transamerica Long Term Care administrative office in Plano, TX will be closed on Monday, Dec. 26, for the holidays. Please allow additional time if necessary to order and receive materials during that time. Much of the important materials and resources you may need will be continue to be available on our Agent Resource Center. Holiday Closure, Dec. 26 #goldencareagent #Transamerica
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Categories: Industry News, Long-Term Care, and Transamerica.