“Obesity soars among long-stay nursing home residents”

“Obesity soars among long-stay nursing home residents,” by Kimberly Marselas, McKnight’s LTC News Quote:   “The rate of obese nursing home residents jumped from 22% to 28% between 2005 and 2015, according to research presented at the 2018 American Geriatrics Society conference. … In 2015, Class III residents, the most severely obese, were younger than the others. They also had more chronic conditions but lower rates of functional or cognitive decline” LTC Comment (from Stephen A. Moses, Administrative Coordinator, Center for Long-Term Care Reform): The vast majority of long-stay nursing home residents rely on Medicaid. The trend toward younger, obese,
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Categories: Clippings, Industry News, and Long-Term Care.

“Eating a Mediterranean Diet Could Delay Alzheimer’s Disease by Years”

“Eating a Mediterranean Diet Could Delay Alzheimer’s Disease by Years,” by Dana Dovey, Newsweek Quote:   “A study published last month suggests that a Mediterranean diet isn’t just good for your heart and waistline but can also stave off the onset of Alzheimer’s disease by as much as three and a half years. The findings may present another reason for you to add more fish and olive oil to your diet. … Results revealed that individuals who reported a lower adherence to the Mediterranean diet displayed more biological risk factors for Alzheimer’s disease at both baseline and at the end
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Categories: Clippings, Industry News, and Long-Term Care.

“The Myth of Outliving Your Retirement Savings”

“The Myth of Outliving Your Retirement Savings,” by Gail MarksJarvis, Reuters Quote: “Most retirement research points to an impending retirement crisis for about half of Americans who save too little. But a new study suggests that behavior like Anderson’s makes the outlook far less dire. Because people worry about outlasting their savings, most adjust by living humbly – often overly so. Consequently, they make even modest savings last for years longer than expected by researchers. “What can devastate financially are divorce, caring for a mentally or physically ill adult child who cannot work, and long-term care expenses, according to the
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Categories: Clippings, Industry News, and Long-Term Care.

“Federal Panel Puts Off Dementia Financial Burden Battle”

“Federal Panel Puts Off Dementia Financial Burden Battle,” by Allison Bell, ThinkAdvisor Quote: “A team that’s part of what was supposed to be an ambitious effort to fight Alzheimer’s disease, and other forms of dementia, has put off making any major proposals related to paying for long-term care services. The team, the National Advisory Council on Alzheimer’s Research, Care and Services, is simply recommending that the United States try to get more information about the impact of dementia-related costs on people with dementia and their caregivers. The country should ‘develop information about the impact’ and “identify approaches to address negative effects,” the
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Categories: Clippings, Industry News, and Long-Term Care.

“Medicare Advantage Plans Can Pay for Many LTC Services in 2019: Feds”

“Medicare Advantage Plans Can Pay for Many LTC Services in 2019: Feds,” by Allison Bell, ThinkAdvisor Quote: “The Centers for Medicare and Medicaid Services is getting ready to let Medicare Advantage plan issuers add major new long-term care benefits to their supplemental benefits menus.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Medicaid made nursing home care free in 1965 without enforcing spend-down rules thus desensitizing the public to LTC risk, locking in institutional bias, and impeding private financing of LTC through savings, home equity conversion and private insurance. This new government venture into “free LTC”
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Categories: Clippings, Industry News, and Long-Term Care.

Quick Tip: Quoting with MutualCare® Solutions Software

Scenario: In today’s world, it seems everyone is constantly looking for larger screens. If you’re working on a computer with a relatively small screen (or simply need to declutter the space you have), make the most of your workspace using this tip! The MutualCare® Solutions software allows you to pin the blue Client/Agent column to left side of the software window. As long as the pin points down, your blue column will remain visible along the left side of the software window for easy access. If clicked, the blue column will shrink and turn dark red, indicating that the column
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Categories: GoldenCare News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Transamerica Long Term Care Update (ND, SD & MT)

STATE OF NORTH DAKOTA, SOUTH DAKOTA, AND MONTANA May 2, 2018 Transamerica Life Insurance Company remains committed to you and to the long term care insurance market. As such, it’s important that we modify our premium rates for new TransCare® II  business to reflect actual claims experience by policyholders. These rate changes will also maintain consistency in our pricing across our product portfolio which will allow Transamerica Life Insurance Company to remain highly competitive within the marketplace. These refreshed rates are exclusively for new sales of TransCare® II  in the states of North Dakota, South Dakota and Montana, and will
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Categories: Industry News, Long-Term Care, and Transamerica.

State Replacement Regulations Reminder For All Insurance Products

Please remember that all states have regulations governing replacement and/or churning activity. Replacement regulations require additional paperwork to be provided to the applicant/annuitant and submitted with the application. Failure to comply with regulatory requirements will result in processing delays for you and your client(s). In addition, the Genworth companies (Genworth) have adopted and published a Replacement Policy that details the company’s position on replacement activity. To read the policy in its entirety, click the link below: State Replacement Regulations Reminder For All Insurance Products #goldencareagent #genworth
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Categories: Genworth, Industry News, and Long-Term Care.

In-Force Rate Action Announcement: Nevada (Privileged Choice® and Classic Select®)

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Nevada has now allowed the following increases: Nevada Product Series Increase Percentage Privileged Choice 55.0% phased 15%, 20%, 12.3% cumulative Classic Select 55.0% phased 15%, 20%, 12.3% cumulative     This rate increase applies to AARP® and Non-AARP policies. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the start of policyholder notifications. Policyholder notifications will
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Categories: Genworth and Long-Term Care.

In-Force Rate Action Announcement: Delaware (PCS I, PCS II, Choice 1)

As part of the strategy for our long-term care insurance business, we continue pursuing initiatives to improve the risk and profitability profile of our business, including premium increases on our in-force policies, as needed. Delaware has now allowed the following increase: Delaware Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 59.6% phased 30%, 22.8% cumulative 80.2% phased 30%, 30%, 6.6% cumulative PCS II 58.7% phased 30%, 22.1% cumulative 78.3% phased 30%, 30%, 5.5% cumulative Choice 1 58.1% phased 30%, 21.6% cumulative 77.3% phased 30%, 30%, 4.9% cumulative  
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Categories: Genworth, Industry News, and Long-Term Care.