In-Force Rate Action Announcement: South Carolina (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. South Carolina has now allowed the following increase: South Carolina Product Series Increase Percentage Privileged Choice 20% Classic Select 20%     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 October 24, 2017 and will continue throughout the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Pennsylvania (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. Pennsylvania has now allowed the following increases: Pennsylvania Non-AARP Product Series Increase Percentage Privileged Choice 36.4% phased 16.8% / 16.8% compounded Classic Select 36.4% phased 16.8% / 16.8% compounded     Pennsylvania AARP Product Series Increase Percentage Privileged Choice 45.2% phased 20% / 21% compounded Classic Select 45.2% phased 20% / 21% compounded     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: Mississippi (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. Mississippi has now allowed the following increases: Mississippi Non-AARP Product Series Increase Percentage Privileged Choice 13.5% Classic Select 13.5%     Mississippi AARP Product Series Increase Percentage Privileged Choice 12.4% Classic Select 12.4%     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 October 24, 2017
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Georgia (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. Georgia has now allowed the following increase: Georgia Product Series Increase Percentage Privileged Choice 20% Classic Select 20%     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 October 24, 2017 and will continue throughout the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Connecticut (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. Connecticut has now allowed the following increase: Connecticut 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 October 24, 2017 and will continue throughout the
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Arkansas (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. Arkansas has now allowed the following increases: Arkansas Non-AARP Product Series Increase Percentage Privileged Choice 25% Classic Select 25%     Arkansas 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 October 24, 2017
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Categories: Genworth, Industry News, and Long-Term Care.

Transamerica: Updated Underwriting Guidelines

We’ve made available updated underwriting guidelines to include premium to income guidelines intended to provide a general formula to help you calculate suggested maximum amounts of life insurance that should meet the needs of your clients. View the new guidelines now or you can access the guidelines through your agent portal. If you have any questions, don’t hesitate to contact your sales desk. Thank you for trusting Transamerica to protect your valued clients.   Updated Underwriting Guidelines   #goldencareagent #transamerica
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Categories: Industry News, Life Insurance, and Transamerica.

November is Just Around the Corner

If it’s November, it’s LTC Awareness Month. Take advantage of this industry-wide effort to heighten consumer awareness of the need to plan for long-term care. If you are not sure how to begin the discussion, Mutual of Omaha’s Sales Ideas booklet can help. It can help you find people to talk to and provides tips to get the conversation started. It also covers how to address the need for LTCi plus ways to use product features to solve clients’ problems. Make sure you are ready to hit the ground running come November. Order your copies today. View the Booklet >
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

“Chasing millions in Medicaid dollars, hospitals buy up nursing homes”

“Chasing millions in Medicaid dollars, hospitals buy up nursing homes,” by Phil Galewitz, Kaiser Health News “Nearly 90 percent of Indiana’s 554 nursing homes have been leased or sold to county hospitals in the past 14 years, state records show, bringing in hundreds of millions in extra federal payments to the state. Even though Indiana’s nursing home population has remained steady at about 39,000 people over the past five years, Medicaid spending for the homes has increased by $900 million, to $2.2 billion in 2016, according to state data. Today, more than two-thirds of Indiana’s Medicaid long-term care dollars go to nursing homes.
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Categories: Industry News and Long-Term Care.

“Medicare Advantage 2018 Data Spotlight: First Look”

“Medicare Advantage 2018 Data Spotlight: First Look,” by Gretchen Jacobson, Anthony Damico, and Tricia Neuman, KFF.org “More than 19 million Medicare beneficiaries (33%) are enrolled in Medicare Advantage plans in 2017, which are offered as an alternative to the traditional Medicare program.  This first look at the Medicare Advantage plans available for 2018 analyzes publicly available data to review the Medicare Advantage plans offered during the Medicare Open Enrollment period. It describes the Medicare Advantage plan choices and availability, and how these have changed over time.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Click to
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Categories: Industry News and Long-Term Care.