The Maryland Insurance Administration is requiring that all Long Term Care Insurance applicants in Maryland are provided with a LTCi Partnership Disclosure Notice at the time of application. This document is included with Maryland’s LTC Application & Forms in your Agent Portal. Please begin providing this form to LTCi applicants in Maryland. It is also required for producers to maintain records demonstrating that the required disclosure statement was provided to each LTCi applicant. Additional information can be found in the following Maryland Insurance Administration bulletin. You can also contact LifeSecure’s Agent Support team with any questions at 866-582-7701 or via
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Alert Regarding Rate Increases Earlier this year, the Delaware Department of Insurance was made aware that various members of the insurance industry have been responding to consumer inquires related to premium rate increases by claiming the Department of Insurance has required an insurer to raise premium rates. In response, the department released a bulletin to reiterate that it is unlawful for all persons and companies engaged in the aspect of insurance to make any assertion, representation or statement with respect to the business of insurance which is untrue, deceptive or misleading. Please refer to the bulletin above and Delaware Insurance
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LTCi Rate Increase Announcement Based on our analysis, earlier this year we began seeking premium rate increases in certain states for our first generation Long Term Care Insurance business (policy series LS-0002 et al, issued prior to Feb. 3 2014). Agents with impacted clients will receive a notification via email once the rate increase receives state approval. We expect this process to be completed by the end of 2018. The notification timeline for agents and policyholders is as follows: Agents — at least five days prior to policyholder notifications Policyholders — at least 45 days before the rate increase effective
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“LTCI Policyholders May Get Broader Guaranty Association Protection,” by Allison Bell, ThinkAdvisor “The National Association of Insurance Commissioners has put its full weight behind efforts to broaden the base of support for the policyholders of long-term care insurance (LTCI) issuers that fail. The NAIC last week approved amendments to the Life and Health Guaranty Association Model Act (Model Number 520) during a conference call meeting, officials said in an approval announcement.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Spread the debt. LTCI Policyholders May Get Broader Guaranty Association Protection #insurance #policyholders #goldencareagent
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“Daily Serving of Leafy Greens May Boost Brain Health,” by Kate Kneisel, MedPage Today “Compared with the one-fifth of participants who consumed the least amount of leafy green vegetables (0.1 average servings/day), the one-fifth who consumed the most (1.3 average servings/day) slowed their cognitive decline by an average of 0.05 standardized units per year (P=0.0001) after adjustments, they wrote in Neurology.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): A salad a day keeps the neurologist away. Daily Serving of Leafy Greens May Boost Brain Health #brain #health #goldencareagent
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“Smaller personal care homes are a growing senior living option,” by Leslie Spirer, McKnight’s Senior Living Smaller personal care homes are a popular option the West Coast, enjoying more popularity there than on the East Coast or in the South. But popularity is growing elsewhere, too. . . . In California, 90% of senior living facilities accommodate four to six residents. . . . What is the appeal? As you know, most older adults have needs that fall beneath the level of skilled nursing services. The small personal care home, licensed for two to six people, can be a safe,
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“Completing the Retirement Planning Puzzle: Where Long-Term Care Fits In,” by Sandra Timmermann, ThinkAdvisor “Ten suggestions for you and your family as you consider long-term care risk and where it fits into your retirement planning process.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Sound advice from a reliable source. Completing the Retirement Planning Puzzle: Where Long-Term Care Fits In #long-termcare #retirement #goldencareagent
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“CDC: More than 20% of 85+ adults need ADL assistance,” by Lois A. Bowers, McKnight’s Senior Living “More than 20% (21.7%) of adults aged 85 or more years needed help with activities of daily living in the first half of the year, according to the latest data released Tuesday by the Center for Disease Control and Prevention’s National Center for Health Statistics. The finding means that adults in that age range are more than twice as likely as those aged 75 to 84 (8.5%) and more than six times as likely as adults aged 65 to 74 (3.4%) to need
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