“Failing Sense of Smell Tied to Dementia Risk”

“Failing Sense of Smell Tied to Dementia Risk,” by OneAmerica, Advisor Magazine “Older adults who’ve lost their sense of smell appear to have an increased risk of dementia, a new study suggests. The long-term study included nearly 3,000 participants, aged 57 to 85, who were tested on their ability to identify five common odors. . . . Five years after the test, the participants who weren’t able to identify at least four of the five odors were more than twice as likely to have dementia, compared to those with a normal sense of smell, the researchers said.” LTC Comment (from
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Categories: Industry News and Long-Term Care.

“Majority of Americans believe health insurance or Medicare will pay for long-term care”

“Majority of Americans believe health insurance or Medicare will pay for long-term care,” by OneAmerica, Advisor Magazine “A recent survey conducted online by Harris Poll on behalf of OneAmerica® asked adults how they would pay for assistance with daily living due to illness or injury, either in-home or in a care facility, for an extended period of time (i.e., longer than 90 days). More than half (55%) said they’d use Medicare or health insurance, even though in most cases, neither will pay for long-term assistance with daily activities. In the survey of 2,065 U.S. adults age 18 and older1, those
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Categories: Industry News and Long-Term Care.

“Popularity of hybrid long-term care policies grows with longer-pay options”

“Popularity of hybrid long-term care policies grows with longer-pay options,” by Margarida Correia, Financial Planning “Until recently, individuals would typically plunk down $100,000 or $200,000 to purchase a hybrid life insurance policy that provided long-term care benefits. With the rollout of smaller policies payable over 10 years, more people are now able to access the coverage, according to Steckler.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Seems to be a trend. Popularity of hybrid long-term care policies grows with longer-pay options #goldencareagent #hybrid #longtermcare
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Categories: Industry News, Linked Benefit/Hybrids, and Long-Term Care.

“Can I get more affordable long-term care insurance?”

“Can I get more affordable long-term care insurance?,” by Philip Moeller, PBS NewsHour Q: “My second question is, I have had long-term care insurance for 14 years. I have not had occasion to use it, but just received a notice stating future projections require that my policy premiums will increase annually by $655, and that there could be future increases as well. This is a big blow as the insurance already costs $2,200 annually, which is not easy for me to cover. Would you advise dropping the coverage altogether considering the Medicare coverage I will have, and if not, could
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Categories: Industry News and Long-Term Care.

“Buyer Beware: Long-Term Care Costs Are Surging”

“Buyer Beware: Long-Term Care Costs Are Surging,” by Tom Murphy, U.S. News & World Report “Long-term care costs are surging again and the most expensive option — a private nursing home room — may soon top $100,000 per year. Growing labor expenses and sicker patients helped push the median cost of care that includes adult day care and assisted living communities up an average of 4.5 percent this year, according to a survey released Tuesday by Genworth Financial. That’s the second-highest increase since Genworth started its survey in 2004. The cost of home health aide services climbed the most, rising
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Categories: Industry News and Long-Term Care.

“Long-Term Care Insurance Depends on Genworth-Oceanwide Transaction”

 “Long-Term Care Insurance Depends on Genworth-Oceanwide Transaction,” by Jesse Slome, Observer “Genworth has been clear: Without the Oceanwide transaction, the company would likely cease writing new LTC policies and potentially fully exit the LTC marketplace, which may cause other market participants in an already shrinking industry to follow suit, ultimately resulting in the elimination of the private LTC market. These potential consequences would place further stress on an already overburdened Medicaid program and on individuals and families across the U.S., with the middle class feeling the greatest impact.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
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Categories: Industry News and Long-Term Care.

“LTCA Announces Top Long-Term Care Producers of 2017”

“LTCA Announces Top Long-Term Care Producers of 2017,” PR/Web “Long Term Care Associates, Inc. (LTCA) has closed the 2017 qualification period and named its top ten finalists in the field of long-term care (“LTC”) planning. These ten specialists will be formally recognized at a conference held in their honor in Washington, DC between October 4th – 7th. Several of the nation’s leading LTC insurers will be sending ambassadors.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Congratulations to Center-corporate-member LTCA and all its honorees! People with dementia fail to get specialist care despite great need #goldencareagent
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Categories: Industry News and Long-Term Care.

“People with dementia fail to get specialist care despite great need”

“People with dementia fail to get specialist care despite great need,” Medical Xpress “People suffering in the late stages of dementia receive most of their healthcare from GPs or emergency services rather than from specialist health care professionals, despite them having complex needs, researchers at UCL have found. While those with advanced dementia often suffered chronic pain and psychiatric symptoms that persisted over many months, they had little contact with specialist services such as palliative care, geriatrics or mental health. Only 1% of people with advanced dementia were seen during the follow up period of the study by a geriatrician
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Categories: Industry News and Long-Term Care.

“A Prime Time to Plan for Long-Term Care Is After Arranging It for Someone Else”

“A Prime Time to Plan for Long-Term Care Is After Arranging It for Someone Else,” Advisor Magazine “Have you been called upon to arrange care for an aging parent or other loved one? If so, ‘it can be a blessing in disguise,’ says Denise Gott, CEO of ACSIA Partners, one of the nation’s largest long-term care insurance agencies. ‘It can inspire you to plan ahead for your own care, without delay.’” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Hear, hear! A Prime Time to Plan for Long-Term Care Is After Arranging It for Someone Else #goldencareagent #long-term
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Categories: Industry News and Long-Term Care.

LTCi Underwriting Update: “Other than applied for” cases

In an effort to increase customer satisfaction with a Long-Term Care policy issued by Mutual of Omaha and align ourselves with other Mutual of Omaha Underwriting Departments, we plan to implement a new process effective October 1, 2017. Effective October 1, 2017, when a case has been approved “other than applied for” (except for a better rate), Underwriting will reach out to the producer and inquire whether the producer will be able to place the policy with the rate and benefit changes (if any) proposed by Underwriting. Underwriting will hold the policy for 14 calendar days for the producer to
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).