In-Force Rate Action Announcement: Montana (PCS I, PCS II)

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. Montana has now allowed the following increases: Montana Product Series Increase Percentage for Policies with Limited Benefit Periods Increase Percentage for Policies with Lifetime Benefit Periods PCS I 4.4% 4.4% PCS II 12.4% 12.4%       This rate increase applies to Non-AARP, non-partnership policies only. Communications Timeline Servicing agents will receive a list of their impacted policyholders in this state one week prior to the
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Categories: Genworth and Long-Term Care.

“Kaiser Study: Nursing homes have fewer residents, but those residents need more help”

“Kaiser Study: Nursing homes have fewer residents, but those residents need more help,” by Kimberly Marselas, McKnight’s LTC News Quote: “Though occupancy rates fell between 2009 and 2016, the needs of nursing home residents have grown considerably — placing more demands on sometimes unprepared nursing staff, according to an in-depth analysis published by the Henry J. Kaiser Family Foundation. In 2016, nearly half of nursing home residents had a dementia diagnosis, and just under one-third had other psychiatric conditions such as schizophrenia, mood disorders or other diagnoses. … Medicaid is the primary payer source for most certified nursing facility residents,
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Categories: Clippings, Industry News, and Long-Term Care.

“Group Defends Stand-Alone Long-Term Care Insurance With Infographic”

“Group Defends Stand-Alone Long-Term Care Insurance With Infographic,” by Allison Bell, ThinkAdvisor Quote: “The American Association for Long-Term Care Insurance is using a new infographic about long-term care insurance (LTCI) claim payments to try to increase consumer confidence in stand-alone LTCI coverage. Jesse Slome, AALTCI’s director, says in a statement that he prepared the infographic in an effort to counter some consumers’ mistaken belief that LTCI issuers fail to pay claims. Slome used previously published data, from AALTCI’s own LTCI issuer survey, to show that issuers paid at least $9.2 billion claims in 2017, and that 295,000 people were using LTCI benefits
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Categories: Clippings, Industry News, and Long-Term Care.

“Older Pre-Retirees Worry a Lot About Social Security: Gallup”

“Older Pre-Retirees Worry a Lot About Social Security: Gallup,” by Michael Fischer, ThinkAdvisor Quote: “Fifty-one percent of pre-retirement American adults in the 50-to-64 age group are very concerned about the Social Security system, Gallup reported Friday. In contrast, only one-third of young adults expressed a great deal of concern about the system. … As for Americans in the 30-to-49 age bracket, the percentage expressing a lot of concern about Social Security has held steady in the range of 46% to 52% since 2005, according to Gallup. In the current poll, 49% said they worried a great deal. Unsurprisingly, majorities of
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Categories: Clippings, Industry News, and Long-Term Care.

“New way of defining Alzheimer’s aims to find disease sooner”

“New way of defining Alzheimer’s aims to find disease sooner,” by Marilynn Marchione, AP Quote: “Government and other scientists are proposing a new way to define Alzheimer’s disease — basing it on biological signs, such as brain changes, rather than memory loss and other symptoms of dementia that are used today. The move is aimed at improving research, by using more objective criteria like brain scans to pick patients for studies and enroll them sooner in the course of their illness, when treatments may have more chance to help. But it’s too soon to use these scans and other tests
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Categories: Clippings, Industry News, and Long-Term Care.

“Do You Have What It Takes? A Workbook in Preparation for Caregiving”

“Do You Have What It Takes? A Workbook in Preparation for Caregiving,” by Judith M. Ashley, Today’s Caregiver Quote: “Twenty years ago, for the last six weeks of her mother’s life, the author was her mother’s primary caregiver. Her mother wished to die at home and, at that time, there was little in the way of resources to prepare the author for, or guide her through, such a responsible and emotionally-charged experience. In this, her second book, the author set out to create a practical, self-help workbook to support those who find themselves considering taking on a caregiving role and,
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Categories: Clippings, Industry News, and Long-Term Care.

GoldenCare Newsletter | April 9, 2018

In this GoldenCare Newsletter Edition From GoldenCare: Guarantee Trust Life Insurance Company’s recently-launched Home Health Care product complements the Critical Cash plan so well – it’s a close comparison!   Get your apps in now through the end of May, write both policies on an individual client and DOUBLE your earnings! Get all the details in this Edition.  Good Luck! Diversify your portfolio for greater sales success! Our new training schedule is posted!  Join us for complimentary product and sales training and receive a Continuing Education Voucher for each unique event!  Voucher does not apply in KY. To register, Click Here. Our Guest
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Long-Term Care, Mutual of Omaha (& Affiliates), Securian, and Transamerica.

“Why Americans’ Life Expectancy Is Getting Longer”

“Why Americans’ Life Expectancy Is Getting Longer,” by Robert Preidt, HealthDay Quote: “Americans appear to be aging slower than they used to, which may help explain recent gains in life expectancy, researchers say. The researchers compared how biological age changed in the United States compared to age in years (chronological age). … To calculate biological age, the researchers used several benchmarks for metabolism, inflammation, organ function, blood pressure and breath capacity. … Older adults had the greatest decreases in biological age, and men had greater declines than women.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): 
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Categories: Clippings, Industry News, and Long-Term Care.

“Arthritis: Long Term Pain May Require Long Term Care”

“Arthritis: Long Term Pain May Require Long Term Care,” Advisor Magazine Quote: “It’s true that arthritis can be the result of years of wear and tear; however, it’s not just the result of getting older. In fact, the average age of onset for arthritis is just 47 years old. While this number may come as a shock, it’s also true that arthritis is a condition that plagues more than 65% of our oldest Americans, especially women. … The Society of Actuaries stated in 2014 that 17% of female home care claims are due to arthritis, and it’s the second leading cause
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Categories: Clippings, Industry News, and Long-Term Care.

“Understanding the Hidden $1.1 Trillion Welfare System and How to Reform It”

“Understanding the Hidden $1.1 Trillion Welfare System and How to Reform It,” by Robert Rector and Vijay Menon, Heritage Foundation Backgrounder Quote: “The true cost of welfare or aid to the poor is largely unknown because the spending is fragmented into myriad programs. Current welfare is focused largely on increasing benefits and enrollments and redistributing income. Self-defeating behaviors that increase the need for assistance are rarely even mentioned. Policymakers should replace welfare’s current focus with a new set of interlinked goals: reducing self-defeating and self-limiting behaviors, increasing self-support, and improving true human well-being. Welfare reform should (1) require all able-bodied
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Categories: Clippings, Industry News, and Long-Term Care.