“Genworth suspends life insurance sales, plans restructuring,” Richmond Times-Dispatch

“Genworth said it would suspend sales of its traditional life coverage and fixed-annuity products in the first quarter of this year, so the company can focus on fixing a business unit that provides long-term care coverage.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Genworth’s LTCI struggle continues. Genworth suspends life insurance sales, plans restructuring #goldencareagent #Genworth
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Categories: Genworth and Industry News.

“Why Critical Illness Insurance Is Gaining Popularity,” by Mark Zdechlik, National Public Radio

“Imagine – you’re diagnosed with cancer. Your doctor says your survival chances are good, but getting better will cost months of your time. And because you have high-deductible health insurance, you’re going to be responsible for paying thousands of dollars for your care before your insurance kicks in. You’ll have many other expenses, too. Maybe you’ll need help taking care of your kids or your house, whatever. Such circumstances are the base argument for what’s called critical illness insurance. The plans pay a lump sum you can spend however you wish should you become seriously ill. Among companies now embracing
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Categories: Critical Illness and Industry News.

“Aetna Overcomes Obamacare Losses As Medicaid, Medicare Lines Grow,” by Bruce Japsen, Forbes

“Aetna AET +0.00% said its individual commercial health insurance offerings under the Affordable Care Act “remained unprofitable in 2015,” but growth from other government lines of business helped boost overall company profits nearly 40% in the fourth quarter.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Medicare Advantage saves the day again, but beware the other prop—Medicaid managed care—as it may turn very negative for big health insurers like Aetna. Aetna Overcomes Obamacare Losses As Medicaid, Medicare Lines Grow #goldencareagent #Aetna
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Categories: Aetna, Industry News, and Medicare Supp./Adv..

“Why the Conventional Wisdom About Retirement Spending Is Wrong,” by David Blanchett, Wall Street Journal

“At the end of the day, though, it’s the nonrecurring health-care costs (like hospitalizations and nursing-home care, which tend to increase with age) that can really be the budget-busters for retirees. The impact of these expenses are generally relatively binary—either they are enormous or they are fairly insignificant, which makes them relatively hard to plan for. Two potential options here would be to purchase some kind of long-term-care insurance policy, or view the home as an asset of ‘last resort’ that could be used to pay for potential medical expenses.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term
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Categories: Industry News and Long-Term Care.

“Private Long Term Care Insurance Market Must Be Shored Up, Policy Center Argues,” by Bill Myers, Provider

“Policymakers should act ‘to stabilize’ the long term care insurance market ‘and make it accessible to more Americans,’ a new report argues. …  The report also urges state policymakers to consider expanding Medicaid-even if only as part of a one-off ‘buy-in’ to help pay for long term care services and supports.  Finally, the report urges lawmakers and policymakers to pursue concepts and elements for a public insurance program to:  1.) address uninsurable long term care costs;  2.) protect Americans from the catastrophic costs of long term care supports and services; and  3.) provide relief to states, which along with the
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Categories: Industry News and Long-Term Care.

“Wealth-Protection Insurance People Neglect,” by Ivory Johnson, Wall Street Journal

“When you’re in your 50s, it’s easy to put off buying long-term-care coverage because it isn’t something you’re likely to need right away.  I help clients combat this impulse by showing them what their retirement will look like based on how we’ve planned it, and what would happen to that plan if they had to pay for long-term care out-of-pocket for just three years.  You can do all of the saving in the world, but if you have to go into a nursing home, all of a sudden you may have $6,000 in monthly expenses you weren’t expecting.” LTC Comment
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Categories: Industry News and Long-Term Care.

“What Are The Best Coverage Options For Long-Term Care Insurance,” by Wade Pfau, Forbes

“This is the second part of a series. Read part one here.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): FYI. What Are The Best Coverage Options For Long-Term Care Insurance #goldencareagent
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Categories: Industry News, Linked Benefit/Hybrids, and Long-Term Care.

“Free Webinar: The Evolving Medicare Payment Landscape: How PAC Providers Can Prepare,” by Avalere and McKnight’s LTC News

“Register Today for a McKnight’s Long-Term Care News Free Webcast; Thursday, February 4th, 2016 1:00 PM ET / 12:00 PM CT: “The Evolving Medicare Payment Landscape: How PAC [Post-Acute Care] Providers Can Prepare” “Avalere Health will explore the current value-based purchasing landscape for post-acute care. We will provide insight into emerging payment models, such as bundled payments, and the expanded role of quality measurement and coordinated care. Finally, we will provide solutions to help prepare post-acute care providers for new payment models and opportunities.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Huge changes are afoot
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Categories: Industry News and Short-Term Care.

“Short-Term Care Insurance Finding a Market,” by Cyril Tuohy, InsuranceNewsNet

“Big premium increases for long-term care insurance (LTCi) have created new opportunities for short-term care insurance (STCi), a category that has kept a relatively low profile.  Until now.  Proponents of STCi say the time has come to push hard and loud to promote the value of STCi.  New plans call for launching a dedicated STCi website as well as a marketing campaign targeted at agents and consumers. …  Detractors say STCi, which serves as a stopgap to cover the 90-day period before an LTCi or a Medicare policy kicks in, isn’t really worth it.” LTC Comment (from Stephen A. Moses,
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Categories: Industry News and Short-Term Care.

“Medicaid and Long-Term Care Quiz,” Kaiser Family Foundation

“Medicaid and Long-Term Care Quiz:  Medicaid, the nation’s major publicly-financed health insurance program, plays an important role in the delivery and financing of long-term care (LTC) services.  These services include a broad range of paid and unpaid medical and personal care assistance.  Long-term care is not medical in nature.  Instead, it provides help with regular daily activities to support independent living.  People may need LTC over a period of weeks, months, or years.  How much do you know about Medicaid and LTC?  Get Started” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): I aced the quiz
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Categories: Industry News and Long-Term Care.