LifeSecure Home Office Closed on July 4

Please be aware that LifeSecure’s home office will be closed on Monday, July 4, in observance of Independence Day. All departments will re-open Tuesday, July 5, at 8 a.m. ET. To view LifeSecure’s complete schedule of modified office hours for 2016, see below or click here. Thank you for choosing LifeSecure Insurance Company! #goldencareagent #LifeSecure
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Categories: Industry News and Life Secure.

“Consider Combining a CRT With Long-Term Care Insurance,” by David Y. Yvars, Sr., WealthManagement.com

“By combining a CRT with long term care (LTC) insurance (purchased with a portion of the income generated by the CRT), the donor will further protect her assets (versus self-funding the total cost of her care) and provide all the elements of dignity associated with the care she so desires.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This would only work for high-net-worth clients, but it’s an interesting idea. Consider Combining a CRT With Long-Term Care Insurance #goldencareagent
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Categories: Industry News and Long-Term Care.

GoldenCare Newsletter | June 20, 2016

In This Newsletter Edition This edition is loaded with announcements!    Catch up on  all the latest including: Mutual of Omaha’s LTCi is now available on Mutual of Omaha’s mobile quote app, MoO is releasing a new Cancer product in Florida, new LTC e-app enhancements and update life insurance product portfolio and underwriting guides. MedAmerica has a rate increase update on CareDirections Simplicity – please see the newsletter to see if your state is included. Genworth is launching Element℠ – a new Long-Term Care Insurance Solution on June 27th!  They also have a new consumer website to help you and your
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Categories: GoldenCare News, Industry News, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

“Health care costs eating up Social Security benefits, early retirees say,” by Marlene Y. Satter, BenefitsPRO

“One problem faced by potential retirees is that they don’t know how much of a benefit to expect from Social Security once they do start drawing checks. Future retirees say they expect to get $1,610 in monthly Social Security benefits. Recent retirees report their actual monthly benefit is about $1,378, while those who have been retired longer reported receiving just an average of $1,185 per month.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Prospective Social Security benefits are complicated to compute, but it can be done.  I wonder if helping prospects estimate future SS benefits
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Categories: Industry News and Long-Term Care.

“Alzheimer’s: Why actuaries shouldn’t bet on a cure,” by Stacey Burling, Philly.com

“Vince Bodnar, chief actuary for LTCG, which provides actuarial services to the long-term-care insurance industry, cautioned fellow actuaries that even a highly effective Alzheimer’s drug will reduce costs only so much. Dementia is a disease of the elderly, and many have other serious health problems. A new Alzheimer’s drug ‘won’t completely take away people’s disabilities,’ he said.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Actuary and author Bodnar of Center-corporate-member LTCG tells it like it is. Alzheimer’s: Why actuaries shouldn’t bet on a cure #goldencareagent
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Categories: Industry News and Long-Term Care.

“How Much Will Your Health Expenses Be in Retirement?,” by Glenn Ruffenach, Wall Street Journal

“A healthy 65-year-old couple can expect to pay, on average, $266,589 for insurance premiums and $128,365 for related expenses, according to HealthView Services.  …  ‘Excellent health, ironically, can actually raise an individual’s lifetime health spending needs because of the likelihood that healthy 65-year-olds will live much longer.’  …  Note: Neither report accounts for possible long-term-care expenses. For that piece of the puzzle, check out Genworth Financial GNW 2.27 % ’s 2016 “Cost of Care Survey.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Two key insights to share with prospects and clients:  (1) the healthier you
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Categories: Industry News and Long-Term Care.

“MACPAC: Medicaid spending for long-term care ‘disproportionate’,” by Emily Mongan, McKnight’s LTC News

“Medicaid is the largest payer of high-cost services like long-term care, MACPAC noted in its June 2016 Report to Congress. The program finances one-third of the country’s nursing facilities; and spent $169 billion on long-term supports and services in fiscal year 2012.  That amount added up to roughly 43% of Medicaid’s total expenditures for FY 2012, despite just 6.2% of Medicaid beneficiaries needing LTSS, the report found.  …  MACPAC’s Report to Congress also covers financing reforms and trends in Medicaid spending. Click here to read the full report.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
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Categories: Industry News and Long-Term Care.

Kick It In Gear For Cash This Summer!

  Not Selling Custom Solution LTC Yet? Click Here to add this product to your appointments. And Join Us for complimentary product training! All applications for Promotion 1. and 2. must be written between 04/01/2016 and 06/30/2016. All applications for Promotion 3. must be written between 02/01/2016 and 12/31/2016. To qualify, coverage must ultimately be issued and accepted, with Annualized Premium per Applicant averaging no less than $1,000.  You must be an appointed agent with either American Independent Marketing or GoldenCare USA to participate.  Does not apply to captive agents/agencies, and certain MGA’s and GA’s. The 3-in-1 Promotion is considered
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Categories: GoldenCare News, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

“One in five SNF residents experience abuse from other residents, study finds,” by Emily Mongan, McKnight’s LTC News

“Researchers tracked reports of resident-to-resident mistreatment over a one-month period at five urban and five suburban New York nursing homes through resident and staff interviews, observations and incident reports. Of the 2,011 residents included in the study, 407 — or more than 20% — said they had experienced at least one abusive event over the course of the month. The study was released Tuesday in Annals of Internal Medicine.  …  The findings indicate that traditional efforts to curb nursing home abuse may be disproportionately aimed at staff mistreatment instead of resident-on-resident events, researchers noted.” LTC Comment (from Stephen A. Moses,
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Categories: Industry News and Long-Term Care.

The Importance of Up-to-Date Partnership Training

States require LTCi insurance carriers to make sure the agents that represent them have taken the required partnership training and periodic refresher courses, and that certification of completion is on file. That means if an agent’s partnership training isn’t current, we can’t accept the application. Agents can check the status of their partnership training records by calling GoldenCare’s Licensing Department at 1-800-842-7799, or by calling Mutual of Omaha directly at 1-800-867-6873. Mutual of Omaha’s Partnership Overview & Training Requirements Guide also provides detailed training requirements by state.   #goldencareagent #MutualOfOmaha
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Categories: Industry News and Mutual of Omaha (& Affiliates).