Earn An Elegant Getaway RITZ-CARLTON MONTREAL Quebec, Canada A Mutual of Omaha Incentive Trip for Long-Term Care (LTC) Producers It’s a new incentive travel opportunity just for LTCi producers. We’ll reward the top 10 LTCi producers of 2019 with a 4-day getaway to the Ritz-Carlton Montreal in June, 2020. Eligible business includes Mutual of Omaha’s traditional LTCi products – MutualCare® Secure Solution and MutualCare® Custom Solution. Make the most of these final weeks — the qualification period ends December 31, 2019! View the Incentive Trip Flyer #goldencareagent #mutualofomaha
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Oklahoma Now a Pre-Appointment State
Effective November 1, 2019, the state of Oklahoma updated their state regulations to move Oklahoma to a pre-appointment state. This means that if you are writing business in the state of Oklahoma you will be required to have an effective appointment prior to taking an application. All producers currently in the Mutual of Omaha system with a Just-In-Time Oklahoma appointment will be placed in an effective status as of 11/1/2019. All future triggered appointments will be placed in an effective status to meet this regulation change. If you have questions, please contact Mutual of Omaha’s Producer Services Team at
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LTC Partnership Approved in New Mexico
Great news! Partnership has been approved in NM on November 12, 2019. The Partnership Program is designed to allow those who have a qualifying policy to protect their assets from Medicaid spend-down requirements on a dollar-for-dollar basis, equal to the amount of any long-term care insurance benefits received. For a policy to be eligible for Partnership, it must: Be tax-qualified (MutualCare Solutions policies meet this requirement) Be purchased in a state where Partnership is approved Have inflation protection based on specific age brackets at time of purchase LTC13 applications signed in New Mexico on or after November 12, 2019 will
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Rate Adjustments Effective March 2020
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective March 1, 2020: Block of Business Impacted States LT50, NH50, HCA, NHA and LTA Maine For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder
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Rate Adjustments Effective February 2020
Long-Term Care insurance (LTCi) is a core product for Mutual of Omaha, and we intend to remain a key player in this market for years to come. To fulfill this commitment, we actively monitor emerging industry trends and make any adjustments necessary that enable us to keep our promises to policyholders and remain competitive in the marketplace. For this reason, we will be implementing the following rate adjustments effective February 1, 2020: Block of Business Impacted States HCA and HCAR Florida For a complete rate history, see the state approval grid on Sales Professional Access. Policyholder Notification Process Policyholders
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“60 Seconds with Steve Monroe”
“60 Seconds with Steve Monroe,” by Steve Monroe, The Senior Care Investor Quote: “Are people in our nation’s capital really that out of touch with reality on the ground? Yes. “Finding quality staff is hard enough in skilled nursing facilities, but then getting reimbursed to pay for them is even harder. So, my senator from Connecticut is a co-sponsor of the Quality Care for Nursing Home Residents Act. Now, who doesn’t want quality care for nursing home residents? I assume everyone, except those who would like to put the sector out of business. “For your standard 120-bed nursing facility,
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Clippings, Industry News, and Long-Term Care.
“5 Facts About the Senate Finance Long-Term Care Hearing”
“5 Facts About the Senate Finance Long-Term Care Hearing,” by Allison Bell, ThinkAdvisor “A Republican on the Senate Finance Committee says he’s trying to do what he can to revive the market for long-term care insurance (LTCI). Sen. Pat Toomey, R-Pa., announced Wednesday, at a hearing on Alzheimer’s awareness organized by the committee’s health subcommittee, that he’s circulating a discussion draft of a plan for letting people use money from their retirement plans to pay for LTCI coverage. … Here are four other facts about what happened during the hearing: … Links to resources related to the hearing, including a video recording
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Clippings, Industry News, and Long-Term Care.
“The typical American heir is now a middle-class 50-something who puts the money toward retirement”
“The typical American heir is now a middle-class 50-something who puts the money toward retirement,” by Tanza Loudenback, Business Insider “Over the last 30 years, Americans receiving inheritances have gone from an average age of 41 to 51, according to a new white paper published by United Income from Capital One. As of 2016, more than a quarter of inheritances go to people over age 61. Oftentimes, they’re used to bolster financial security in retirement. Researchers say Americans receiving larger inheritances later in life is the result of increased life expectancy, solid market returns, and retirees spending less than they
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Clippings, Industry News, and Long-Term Care.
Good News | How Much Will Your LTC Clients Save Under 2020 Tax Deductible Limits?
New 2020 Tax Deductible Limits for LTCi Just Announced Increased tax deductible limits can be a significant benefit for those with tax-qualified long-term care insurance policies, according to the American Association for Long-Term Care Insurance. The following are the just-announced 2020 limits (2019 in brackets): Attained Age Before Close of Taxable Year 2020 Limit (2019) 40 or less $430 ($420) More than 40 but not more than 50 $810 ($790) More than 50 but not more than 60 $1,630 ($1,580) More than 60 but not more than 70 $4,350 ($4,220) More than 70 $5,430 ($5,270) Click here for the
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“Must-Know Statistics About Long-Term Care: 2019 Edition”
“Must-Know Statistics About Long-Term Care: 2019 Edition,” by Christine Benz, Morningstar “To help you arrive at a plan for how you’ll manage your own long-term care costs, I’ve assembled a now-annual compendium of statistics on long-term care. How likely are you to need long-term care and for how long? What does long-term care cost, and what does it cost to insure against it? Who’s providing care, and what toll is that taking on the caregivers?” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Useful reminder.
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Clippings, Industry News, and Long-Term Care.
