“The Perils of Too Much Relaxation in Assisted Living,” by Margaret Danilovich, Next Avenue

“You wake up and someone makes you breakfast. You attend a lecture, eat lunch and enjoy a book club meeting, then eat dinner with friends, and finish the night with a movie before heading to bed. While this lifestyle sounds convenient and relaxing, it may be what is killing older adults in assisted living communities.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Will you be able to afford long-term living and care that does more than plant you in a chair in front of a TV set? The Perils of Too Much Relaxation in Assisted
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Categories: Industry News and Long-Term Care.

“20% of those 85+ need ADL assistance,” by Lois A. Bowers, McKnight’s Senior Living

“Approximately 20% of individuals aged 85 or more years in the United States need assistance with activities of daily living, according to newly released government data.  Overall, 19.9% of members of this age group need help with activities such as eating, bathing, dressing or walking. More women (22.9%) than men (14.4%) need assistance.  …  Adults aged 85 or more years were more than twice as likely to need ADL assistance as were adults aged 75 to 84 years (6.9%), according to the findings, and they were more than six times more likely to need help with personal care as adults
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Categories: Industry News and Long-Term Care.

Reminder: Agent Guidelines for Multiple-State Sales

Licensing, Appointment and Product Guidelines For Long Term Care insurance, the policy will be issued based on the insured’s resident state and policy delivery is required in the same state. Consequently, the soliciting agent must also be licensed and appointed in the state in which solicitation occurs, and if different, also in the resident/delivery state of the insured. Agents should only solicit a prospective insured under circumstances in which the policy form being solicited is filed and approved in the state in which it is to be delivered, which in the case of LTCI is the resident state of the
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Categories: Genworth and Long-Term Care.

In-Force Rate Action Announcement: Ohio (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. In September 2013, we announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequent to that announcement, we received approval for, and implemented, a 15% premium increase in Ohio. At the time, a larger increase was justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In
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Categories: Genworth and Long-Term Care.

“Health insurers may pay for long-term care insurer failures,” by Allison Bell, LifeHealthPRO

“Cantilo has been the special deputy receiver in charge of Penn Treaty America Insurance Company, a troubled LTCI issuer, since 2012. He told task force members that health insurers may end up paying about 75 percent of the guaranty fund costs for liquidating Penn Treaty.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): More tribulation for LTCI and health carriers. Health insurers may pay for long-term care insurer failures #goldencareagent
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Categories: Industry News and Long-Term Care.

“U.S. Dementia Rates Are Dropping Even as Population Ages,” by Gina Kolata, New York Times

“Despite fears that dementia rates were going to explode as the population grows older and fatter, and has more diabetes and high blood pressure, a large nationally representative survey has found the reverse. Dementia is actually on the wane. And when people do get dementia, they get it at older and older ages.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Read this one.  Good news with fascinating details including: “The findings about obesity were especially puzzling. Compared with people of normal weight, overweight people and obese people had a 30 percent lower risk of dementia,
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Categories: Industry News and Long-Term Care.

“Majority of LTC residents turn down dental care, study finds,” by Emily Mongan, McKnight’s LTC News

“Almost 90% of long-term care residents don’t receive dental care during their stay, according to new research.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): What’s the real reason nursing home residents “long in the tooth” don’t get proper dental care?  Two-thirds of them rely on Medicaid and:  “In most states, the largest single financial barrier to dental care is the lack of adequate dental coverage for residents who depend on Medicaid.”  Just one more reason to plan early and avoid dependency on publicly funded LTC. Majority of LTC residents turn down dental care, study finds
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Categories: Industry News and Long-Term Care.

GoldenCare Newsletter | November 21 2016 Edition

In this GoldenCare Newsletter Edition From GoldenCare: The GoldenCare Office will be closed Thurs, November 24th &  Fri, November 25th, for the Thanksgiving Holiday. Please see the newsletter for details on our current promotions! ★ 3-in-1 Promotion (Mutual of Omaha LTCi & Minnesota Life CareShield) The Race To The Finish Line Has Begun! ★ CareShield Sales Incentive Program Downtime during the holidays is the perfect time to brush up on sales skills or learn a new product!   Check out our hot webinar topics and join us for a product demo. Our Guest Article is “Majority of Consumers Nearing or in
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Categories: Genworth, GoldenCare News, Industry News, John Hancock, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

Important Update on our Individual LTC Insurance Products

This is to inform you of an important development concerning our long-term care (LTC) insurance product portfolio. John Hancock has recently completed another comprehensive claims study, which we generally conduct every three years and which examines the usage trends for our insured population. Similar to our previous analysis, the new data demonstrates that claims, particularly at higher ages, continue to last longer than expected, and more policyholders are initiating claims at older ages than previously expected. Based on that data, we have determined that there is a need to increase premiums on certain policy series. As a result, this month,
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Categories: John Hancock and Long-Term Care.

“5 Trump group long-term care insurance plan facts,” by Allison Bell, LifeHealthPRO

“Donald Trump’s father, Fred Trump, died from pneumonia in 1999, after suffering from Alzheimer’s disease for six years.  The president-elect’s family history could have something to do with the benefits that his New York City-based Trump Payroll Corp. has offered, and his company’s benefits menu could shape how he thinks of insurance, retirement program and employee benefits once he’s in office.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Interesting tidbits re Trump and LTCI. 5 Trump group long-term care insurance plan facts #goldencareagent
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Categories: Industry News and Long-Term Care.