“15 Most Expensive States for Long-Term Care: 2017,” by Marlene V. Satter, ThinkAdvisor “Check out the 15 most expensive states for LTC.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Alaska, Hawaii, California and New York? Sure. But North Dakota and Maine? Yup, thanks to their high proportion of elderly residents, relatively more private payers at higher rates than Medicaid and high LTC insurance market penetration. 15 Most Expensive States for Long-Term Care: 2017 #goldencareagent #long-term care
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GoldenCare Newsletter | October 9, 2017
In this GoldenCare Newsletter Edition From GoldenCare: See our full list of hot training topics and register for an event today! We have two Guest Articles in this edition is “Can I get more affordable long-term care insurance?,” by Philip Moeller, PBS NewsHour and “A Prime Time to Plan for Long-Term Care Is After Arranging It for Someone Else,” Advisor Magazine Enjoy! Industry Updates: We have several announcements in this edition: From Mutual of Omaha: Broker Bonus Program!! Don’t miss the details on how you can make even more bucks on your Medicare supplements and select underwritten business. LTCi Underwriting Update:
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“Caregiving for Alzheimer’s patients at risk in coming years, report says”
“Caregiving for Alzheimer’s patients at risk in coming years, report says,” by Karen Weintraub, USA Today “American families are having fewer children and are more likely to be divorced or estranged and have fewer financial resources, Nick Eberstadt, an economist, wrote in a report being released Wednesday [“Hiding in Plain Sight: Social and Demographic Trends That Will Exacerbate the Impact of Alzheimer’s”] by advocacy group UsAgainstAlzheimer’s. . . . These families simply won’t be able to afford to care for aging loved ones, and the burden will necessarily shift to the government — a costly trend the government hasn’t planned
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“LifeSecure Distribution Deal Includes Worksite LTCI”
“LifeSecure Distribution Deal Includes Worksite LTCI,” by Allison Bell, ThinkAdvisor “A distribution arm of the Blue Cross and Blue Shield plans may set up a program that will offer long-term care insurance (LTCI) products from LifeSecure Insurance Company to all of the Blues. BCS Financial Corp., which is based in Oakbrook Terrace, Illinois, may offer stand-alone LTCI products from LifeSecure through an arrangement that will also offer other health products, other than major medical coverage, from LifeSecure.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): LTCI expansion. LifeSecure Distribution Deal Includes Worksite LTCI #goldencareagent #lifesecure
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NGL: EssentialLTC Compliance News
EssentialLTC Maryland Update — Additional Application Form Now Available September 28, 2017 – Due to new state requirements, effective 10/1/2017 the EssentialLTC application forms for the state of Maryland have been revised to include a new required form, the “Important Disclosure Statement About the State of Maryland’s Long-Term Care Insurance Partnership Program” (NLTCN-PRT-MD). This new form must be signed and dated by the proposed applicant (or applicants, if applicable) and the insurance producer at the time of application, with one copy being left with the applicant(s), and the other to be maintained by the agent as part of their records.
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Genworth News & Updates
North Carolina Regulator Approves Proposed Oceanwide Acquisition of Genworth’s NC-Domiciled Insurance Companies 10/04/17 RICHMOND, Va., Oct. 4, 2017 /PRNewswire/ — Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today announced that the North Carolina Department of Insurance has approved the proposed acquisition of control by Oceanwide of Genworth’s North Carolina-domiciled insurance companies, including Genworth Mortgage Insurance Corporation, as contemplated under the merger agreement entered into by Genworth and Oceanwide on Oct. 21, 2016. The North Carolina Department of Insurance’s approval is conditioned on (i) receipt of all other required regulatory approvals; (ii) the continued protection
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Genworth, Industry News, and Long-Term Care.
Genworth News & Updates
Genworth and Oceanwide Provide Update on CFIUS Application 10/02/17 RICHMOND, Va., Oct. 2, 2017 /PRNewswire/ — Genworth Financial, Inc. (NYSE: GNW) and China Oceanwide Holdings Group Co., Ltd. (Oceanwide) today reported that they have withdrawn their joint voluntary notice with the Committee on Foreign Investment in the United States (CFIUS), with an intent to refile the transaction with additional mitigation approaches, including potentially working with a U.S. third- party service provider. Both parties are fully committed to continuing to work on robust mitigation proposals. CFIUS’ acceptance of the refiled joint voluntary notice would commence a new 30-day review period, which
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Genworth, Industry News, and Long-Term Care.
MutualCare Solutions Cash and Reimbursement Benefits
MutualCare Solutions policies give your clients two options on receiving long-term care benefits – cash and reimbursement. The cash benefit can be used for any services that supports the plan of care. Plus there is no elimination period to meet to start using cash. Reimbursement benefits allow your client to access covered long-term care services which will be reimbursed up to the selected amount each month. An elimination period must be met before benefits begin. Your clients also have the flexibility to switch between cash and reimbursement benefits at any time. For more details on cash and reimbursement benefits, here.
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“Why Huge Quality Gaps Among Nursing Homes Are Likely To Grow If Medicaid Is Cut”
“Why Huge Quality Gaps Among Nursing Homes Are Likely To Grow If Medicaid Is Cut,” by Jordan Rau, NPR “Nursing homes that rely the most on Medicaid tend to provide the worst care for their residents — not just the people covered by the program but also those who pay privately or have Medicare coverage. Despite the collapse of the latest Senate effort to repeal the Affordable Care Act, congressional Republicans are still keen on shrinking the amount of Medicaid money Washington sends states.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Could you ask for
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“Genworth survey: Cost of private SNF rooms jumped 5.5% in 2017”
“Genworth survey: Cost of private SNF rooms jumped 5.5% in 2017,” by Emily Mongan, McKnight’s LTC News “The monthly costs of a stay in a skilled nursing facility continued to grow in 2017, with the average monthly rate of a private room topping $8,000, according to Genworth’s annual Cost of Care survey. The survey’s results, published Tuesday, found private room rates up 5.5% since 2016, for a total of $8,121 per month. That’s compared to a $7,698 average monthly rate reported by last year’s survey. . . . The results of a consumer survey also published by Genworth this week
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Genworth, Industry News, and Long-Term Care.
