Genworth Financial Announces 4th Quarter 2016 Results

Genworth Financial, Inc. (NYSE: GNW) today reported results for the period ended December 31, 2016. The company reported a net loss of $122 million, or $0.25 per diluted share, in the fourth quarter of 2016, compared with a net loss of $292 million, or $0.59 per diluted share, in the fourth quarter of 2015. The adjusted operating loss for the fourth quarter of 2016 was $137 million, or $0.27 per diluted share, compared with an adjusted operating loss of $82 million, or $0.17 per diluted share, in the fourth quarter of 2015. The company reported a net loss of $277
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Categories: Genworth, Industry News, and Long-Term Care.

Mutual of Omaha’s 93 Comdex Score: Another Indicator of Financial Strength

Mutual of Omaha’s 93 Comdex Score: Mutual of Omaha has always earned strong financial ratings from the leading rating agencies. The Comdex Score can help your agents and their clients understand what these industry ratings represent. Based on a scale of 1 to 100, the Comdex Score provides a company’s standing in relation to other insurance companies. Our Comdex Score of 93 means Mutual of Omaha’s combined financial ratings are better than 93 percent of all insurance companies operating today. Just one more reason to place your LTCi business with Mutual of Omaha.   #goldencareagent #MutualOfOmaha
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

“Making Sense Of Tough Long-Term Care Choices,” by Morey Stettner, Investor’s Business Daily

“For many advisors, helping clients plan for their potential long-term care needs requires a frank discussion about grim topics. Individuals rarely enjoy pondering what they’d do if they couldn’t feed or wash themselves and needed ongoing care, whether at home or in an assisted-living facility. Yet it’s a vital part of comprehensive financial planning and advisors often pride themselves on guiding clients through it. But reviewing the options — and taking prudent steps to safeguard against loss — can still stoke client dismay or dissatisfaction.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): I expect most
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Categories: Industry News and Long-Term Care.

“U.S. proposes 0.25 percent hike in Medicare Advantage payments,” by Caroline Humer, Reuter’s

“The U.S. government on Wednesday proposed an increase of 0.25 percent on average in payments to health insurers who offer Medicare Advantage insurance, which provides health benefits to more than 18 million elderly or disabled people.  …  It is not clear if Republicans will make any broad changes to the Medicare Advantage program, or to Medicare. Ipsita Smolinski, managing director at Capitol Street in Washington D.C. said on Wednesday that Medicare Advantage could get a boost amid the Republican push for private programs.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): We’ll see. U.S. proposes 0.25
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Categories: Industry News and Medicare Supp./Adv..

Good News | 3-in-1 Promo Winners Announced!

  Announcing GoldenCare’s Winners of the 3-in-1 Promotion’s Bonus Cash Drawing (3rd Quarter) All of GoldenCare’s Mutual of Omaha Custom Solution LTCi business submitted during the third quarter of our 3-in-1 Promotion  has been finalized! We are pleased to announce the GoldenCare winners of the Bonus Cash Drawing for the 3rd Quarter of 2016. (The Bonus Cash Drawing includes 20 prizes, totaling $5,000.) The winners are: $1,000 (1 winner) •   (from AIM territory) $500 (three winners, two from GoldenCare territory) •  Brian A. – WI •  Cliff M. – WI $250 (six winners, three from GoldenCare territory) • Glenn
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Categories: GoldenCare News, Industry News, and Long-Term Care.

“An action plan to fund long-term care,” by Marina Gerner, Money Observer

“The population of the UK is ageing, and people’s life expectancies are longer than ever. By 2040, nearly one in four people in the UK will be aged over 65, according to a recent Age UK report. But the country has little money set aside for elderly care, at either the state or individual level. Many people assume the National Health Service (NHS) can be relied on to provide care for elderly relatives. But while the NHS can step in under circumstances of urgent need, most families have to fund care costs themselves or rely on cash-strapped councils whose budgets
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Categories: Industry News and Long-Term Care.

“House bill could change how Medicaid treats annuities,” by Allison Bell, LifeHealthPRO

“The new Mullin draft could hurt life insurers’ annuity operations by making annuities less attractive as Medicaid “asset shielding” vehicles. But it could increase the typical size of the annuities couples use in Medicaid planning arrangements.  The draft could also make private long-term care insurance policies, and life and annuity products that include long-term care benefits, more attractive, by reducing the likelihood that consumers would be able to use ordinary annuities in efforts to qualify for Medicaid nursing home benefits.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Well, it’s about time!  Medicaid annuity abuse allows
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Categories: Industry News and Long-Term Care.

“ACA Medicaid funding rules stink, witness says,” by Allison Bell, LifeHealthPRO

“Current Medicaid formulas give states a perverse incentive to cut spending on benefits for children and poor adults with disabilities before they cut spending on benefits for higher-income, able-bodied adults.  Josh Archambault, a Medicaid policy specialist at the Naples, Florida-based Foundation for Government Accountability, makes that argument in written testimony he prepared for a Medicaid hearing.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is the same analyst and organization we’re working with on the Center’s forthcoming new report on Medicaid and long-term care financing.  ACA Medicaid funding rules stink, witness says #goldencareagent
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Categories: Industry News and Long-Term Care.

“Obama administration’s report could help GOP justify Medicaid cuts,” by Virgil Dickson, Modern Healthcare

“In its final Medicaid spending report, the Obama administration conceded that Medicaid enrollment growth and spending could deplete other federal programs.  …  While this recent report doesn’t outline the biggest spending hikes in recent years, it does warn that increased spending could cause collateral damage.  …  The admission comes as GOP lawmakers and the nominee for HHS secretary look for ways to cut spending in the program. Two Capitol Hill hearings on the matter take place this week.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Ducks are lining up for big changes in Medicaid beneficial
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Categories: Industry News and Long-Term Care.

“Who uses social media the most? Not millennials,” by Lois A. Bowers, McKnight’s Senior Living

“By age group, the heaviest users of social media are members of Generation X, aged 35 to 49, according to the report. They spend 6.58 hours per week on social media. Millennials, by contrast, spend 6:19 hours per week. Those aged 50 or more years spend 4:09 hours per week on social media.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Read this article and the Nielsen report on which it is based for social media lead generation ideas.  Who uses social media the most? Not millennials #goldencareagent
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Categories: Industry News.