COVID-19: Lapsed Policies and Grace Period Extensions

COVID-19: Lapsed Policies and Grace Period Extensions At OneAmerica, we believe in being there when our customers need us most. We recognize that due to the far-reaching effects of the COVID-19 pandemic, some life insurance policyowners currently may struggle to pay their premiums on time. To help those who have a real need during this time and to address the various state requests and directives, the following procedures are being implemented: For policies that have lapsed If a life insurance policy lapsed AFTER the policyowner’s resident state issued a moratorium on lapses, then: OneAmerica is automatically extending coverage on these
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Categories: COVID-19, Industry News, Linked Benefit/Hybrids, and OneAmerica.

An Update on the Underwriting Impacts of COVID-19

What You Need to Know About the Underwriting Impacts of COVID-19 As we continue to adapt to meet the challenge of the COVID-19 pandemic, our priority is to be there for you and your new and existing clients. That means providing as much flexibility to our underwriting approach as possible, while protecting the financial futures of our in force policyholders. Securing paramedical services helps your clients have the best chance for receiving an offer from OneAmerica. Paramedical Services Though there has been some disruption, paramedical services are still widely available. Our two primary exam companies, ExamOne and APPS Paramedical Services,
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Categories: COVID-19, Industry News, Linked Benefit/Hybrids, and OneAmerica.

Important LTC Underwriting Update

From the Desk of Marty Johnson Throughout the rapidly evolving pandemic, Mutual of Omaha has been continuously evaluating our underwriting and new business practices to support business continuity, deliver a consistently high level of service, and maintain our financial strength. As a result, effective Thursday, April 16, 2020, we are implementing a temporary change. We will not be accepting LTC applications for individuals age 65 and older. All LTC cases not already approved or issued will be postponed and processed as an incomplete application. We will continue to prequalify applicants 64 and younger. The prequalification will be good for 60
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Categories: COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Now’s The Time To Touch Base With Your Clients – Here’s How!

Now is the perfect time to touch base with clients that may be reconsidering purchasing insurance that keeps them out of the nursing home!  This flexible, easy-to-sell, easy-to-understand plan is available in most states and has only three knock out questions. Watch this short video below or register for our live introduction webinar! Thursday, April 16, 2020 10:00 to 10:30 AM CDT     $150, $300 or $450 maximum daily benefit options! Great cross-selling opportunity and complements our other great products! Available on paper, portal and the GTL e-App! Prescription benefit year maximum of $300 or $600! $40, $80 or
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Categories: Clippings, COVID-19, GoldenCare News, Guarantee Trust Life, Industry News, and Long-Term Care.

“How Your Stimulus Check Affects Medicaid Eligibility”

“How Your Stimulus Check Affects Medicaid Eligibility,” ElderLawAnswers   Quote: “The coronavirus relief bill includes a direct payment to most Americans, but this has Medicaid recipients wondering how the payment will affect them. Because the payment is not income, it should not count against a Medicaid recipient’s eligibility.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Another taxpayer funded windfall for Medicaid planners      
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Categories: Clippings, Industry News, and Long-Term Care.

“The Economics of Lockdowns”

“The Economics of Lockdowns,” Cato Institute   Quote: “The COVID-19 pandemic has had dire effects on both public health and the economy. In reaction to the virus’s spread, many states have implemented stay‐​at‐​home orders and closures of all ‘nonessential businesses.’ And national lockdowns have been mandated all over Europe. These lockdowns raise all sorts of important economic questions: How much of the coming downturn will be driven by government shutdowns as opposed to the changing consumer and producer behavior we’d expect because of the virus? What will be the net consequences of lockdowns for economic welfare? What factors determine the
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Categories: Clippings, Industry News, and Long-Term Care.

“Pandemic Delays Federal Probe Into Medicare Advantage Health Plans”

“Pandemic Delays Federal Probe Into Medicare Advantage Health Plans,” by Fred Schulte, Kaiser Health News   Quote: “Federal health officials, citing a need to focus on the COVID-19 pandemic, have temporarily halted some efforts to recover hundreds of millions of dollars in overpayments made to Medicare Advantage health plans. The Centers for Medicare & Medicaid Services says the decision will allow insurers and the agency to ‘focus on patient care,’ and will last ‘until after the public health emergency has ended.’ Critics aren’t convinced that’s a wise idea.”   LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care
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Categories: Clippings, Industry News, and Long-Term Care.

GTL: Emergency Grace Period Information

March 25, 2020 EMERGENCY BILLING GRACE PERIODS FOR NON-PAYMENT OF PREMIUM MAY BE EXTENDED To assist policy owners experiencing hardship as a result of the COVID-19 health emergency, GTL is committed to keeping your policy in force and extending the time you have to pay overdue premium in accordance with state regulations. GTL’s website will be updated regularly and will provide information on time extensions that have been granted by the agency regulating insurance in your state. States which currently have time extensions and /or other provisional allowances are listed below.   Click here for state-specific information   Please contact
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Categories: COVID-19, Guarantee Trust Life, and Industry News.

Important Message For Our Customers (COVID-19)

March 25, 2020 CLICK HERE FOR MORE INFORMATION ON EMERGENCY GRACE PERIODS. Dear GTL’s Valued Policyholders and Agents, As you might imagine, the past ten days has been very eventful at Guarantee Trust. We have lots of moving pieces and heightened levels of activity to support a very thorough plan of operations which has two main objectives. One objective is to provide the safest possible work environment for our employee population and the second, and equally important, objective is to provide outstanding uninterrupted service to our policyholders and field representatives. As of last week, we had better than 50% of
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Categories: COVID-19, Guarantee Trust Life, and Industry News.

Genworth: Coronavirus (COVID-19) Preparedness

We are committed to protecting our associates and their families, as well as being there when our policyholders and customers need us the most. In response to the coronavirus (COVID-19) outbreak, we have implemented a plan to help reduce the risk of exposure and transmission among our employees and allow us to continue to provide service to our policyholders and customers. This includes several changes to our corporate policies. Work. All employees strongly encouraged to work from home Travel Guidelines. Restricted employee travel and company visitors Technology. Equipped employees with tools and technology to work remotely from home. Business Continuity.
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Categories: COVID-19, Genworth, Industry News, and Long-Term Care.