“NAIC seeks long-term care insurer insolvency comments,” by Allison Bell, LifeHealthPRO

“The Financial Condition Committee recently approved a set of 2017 charges that call for the working group to ‘evaluate and consider long-term care … insurance and the impact of (long-term care) insurer insolvencies on the Life and Health Insurance Guaranty Association Model Act (Number 520),’ according to a meeting summary report.  …  Some have suggested that long-term care insurer insolvencies may be of interest to health insurers as well as to long-term care insurance issuers, because some states treat long-term care insurance as a health product and make health insurers share in the cost of helping failed long-term care insurance
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Categories: Industry News and Long-Term Care.

2016 Year in Review

We have seen many changes in 2016, but one thing has remained constant, our commitment to long term care (LTC) insurance. Over the past year we have made significant investments and improvements that benefit consumers and our distribution partners. We made LTC insurance: More accessible Expanded allowable medical conditions Implemented Count Offers for qualifying conditions previously declined More affordable Launched Element℠, a prepackaged LTC insurance solution that is easy to sell for producers and provides meaningful benefits at affordable prices for your clients Check out this new Video to see what Element is all about   Easier and faster Discontinued
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Categories: Genworth and Industry News.

GoldenCare Newsletter | December 19, 2016 Edition

From GoldenCare: Ring in 2017 with our End-Of-Year Grand Finale!  Catch up on all the moves, shake-ups and changes that happened in 2016 and get a jump on your success in 2017. Reserve your seats: Wed, Dec 28, 2016 10:00 AM  to  10:30 AM CST Thurs, Dec 29, 2016 2:00 PM  to  2:30 PM CST Our Guest Article is “The Tax Benefits of Long Term Care Insurance” by Maryalene LaPonsie, U.S. News and World Reports.   Enjoy! Minnesota Life / Securian now has Client Videos on YouTube!  See the newsletter to check out some of their most popular videos. GTL has
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Holiday Closure, Dec. 26

The Transamerica Long Term Care administrative office in Plano, TX will be closed on Monday, Dec. 26, for the holidays. Please allow additional time if necessary to order and receive materials during that time. Much of the important materials and resources you may need will be continue to be available on our Agent Resource Center. Holiday Closure, Dec. 26 #goldencareagent #Transamerica
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Categories: Industry News, Long-Term Care, and Transamerica.

“What Happens To Long-Term Care If Trump Remakes Medicare and Medicaid?,” by Howard Gleckman, Forbes

“Who will pay for the roughly one of every seven seniors who will incur long-term care costs in excess of $250,000? In today’s system, the answer for many is Medicaid. But, remember, Trump wants to cut the federal share of that program. An alternative: a universal public catastrophic insurance program that would shift some of the burden from Medicaid. My colleagues at the Urban Institute estimate that such a program could reduce Medicaid LTSS costs for those over 65 by one-third. And the insurance industry backs the idea.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
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Categories: Industry News and Long-Term Care.

“My Last Patient,” by David Scheiner, Chicago

“The long-term-care insurance we’d bought a while back paid for a nursing aide for 12 hours a day; she came from 7 a.m. to 7 p.m. I took care of Margaret for the other 12 hours, with the help of Margaret’s two daughters, Valerie and Michelle. But I was on call 24/7. I even placed a baby monitor next to Margaret’s bed so that I could be at her side at a moment’s notice.  …  The fact is, even with the best care and the best insurance, there’s not a system in place in this country to properly manage the
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Categories: Industry News and Long-Term Care.

Study Finds Americans — Including Millennials — are Dying Faster

Turn to an actuary to determine when we will die? The Society of Actuaries’ (SOA) recently published their annual “Mortality Improvement Scale MP 2016,” study which finds Americans—including Millennials—are dying faster… our projected longevity is shorter than last year. For example, the life expectancy for a 65-year-old is six months shorter than last year’s actuarial study. Younger Americans’ longevity has also been shortened this year. The 25-year-old woman that last year had a 50/50 chance of reaching 90 is projected to fall approximately six months short of the longevity estimate this year. A 25-year-old man’s longevity estimate dropped approximately nine
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Categories: Industry News.

“Harvard study: Elderly demographics will crush existing housing and service options,” by John O’Connor, McKnight’s Senior Living

“The nation’s surging elderly population will create unprecedented demand for affordable housing and service options within two decades, a Harvard University study asserts. In fact, rising needs will far outstrip current capacity on both fronts, according to ‘Projections and Implications for Housing a Growing Population: Older Adults 2015-2035.’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): A big problem and getting worse every day, but as usual, this report recommends only more government spending to address deficiencies created by excessive government spending.  Read its executive summary here.  Harvard study: Elderly demographics will crush existing housing and
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Categories: Industry News and Long-Term Care.

“Finally, Giving The Poor Access To Good Health Insurance,” by Merrill Matthews, Forbes

“Both House Speaker Paul Ryan and Price want to replace Obamacare subsidies with refundable tax credits—which would essentially function like a federal subsidy—for people who do not have access to employer-provided health insurance, Medicare, Medicaid or VA coverage. But under legislation introduced by Price in 2015 (see section 102), a person in a government-run program such as Medicaid could opt out and take the tax credit instead.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is the solution for the ¾ of Medicaid recipients who account for 1/3 of the program’s cost, i.e. poor women
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Categories: Industry News.

“Caring For A Loved One At Home Can Have A Steep Learning Curve,” by Taunya English, Kaiser Health News

“About 44 million Americans are unpaid family caregivers like Bobo — sometimes for a child with special needs, more often for a frail older adult, according to a 2015 estimate from the National Alliance for Caregiving. They are often women with a full-time job and children, though now 40 percent of caregivers are men, and millennials are becoming more involved in caring for someone at home, says John Schall, CEO of the Caregiver Action Network. ‘In too many cases, people just learn this stuff by themselves and that’s really kind of dangerous,’ Schall said.” LTC Comment (from Stephen A. Moses,
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Categories: Industry News and Long-Term Care.