Effective 10/16/17, when the full modal premium is not received, the policy will terminate as of the paid to date and the partial payment will be refunded. The following disclosures will be added to the final billing notice and also the billing statement in order to ensure that your clients are put on notice of this handling. Final Billing Notice Important: If the full balance due is not received by the end of the grace period, your coverage will terminate as of the date the premium was due (except in Maryland which will cancel as of the last day of
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New Supply Order Form
A new Supply Order Form AFN42854_1017 is now available for use on all product lines when placing email orders for marketing materials through our Sales Support area. Please begin using this new form immediately. Attached for your convenience is a fillable PDF document that can be downloaded and saved to your files. When needed, complete the order form and email to: fulfillment.services@mutualofomaha.com. The order form is also available to view and download on Sales Professional Access www.mutualofomaha.com/broker under Forms and Materials. If you have questions, please call Mutual of Omaha’s Sales Support at (800) 693-6083. New Supply Order Form
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“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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Genworth, Industry News, and Long-Term Care.
“Editorial: The feds should let the Genworth deal go forward”
“Editorial: The feds should let the Genworth deal go forward,” Richmond Times-Dispatch “Slammed by huge losses in its long-term care insurance business, Henrico-based Genworth has struck a deal with a Chinese company that wants to buy it. But federal regulators are standing in the way. “China Oceanwide would rely on Genworth’s expertise to build its own insurance portfolio in China. If the Chinese company is allowed to acquire Genworth, it has pledged to inject $1.1 billion into the insurer’s balance sheet. That’s in addition to the approximately $2.7 billion it’s paying to buy the local company. “If it can’t, Genworth
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Genworth, Industry News, and Long-Term Care.
“The Call-In: Elder Care”
“The Call-In: Elder Care,” by Lulu Garcia, NPR “You know, I run a business. And I have a son. And we – we’re very, very lucky that my father had put in place long-term care insurance. And it has not kicked in yet, but he has been approved. That will help some of it. And then my father has put in place some monies. And I have figured out my mind that we can do this.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Still waiting for a call in about how wonderful their Medicaid nursing
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“How to Get Medicaid for Nursing Home Care Without Going Broke”
“How to Get Medicaid for Nursing Home Care Without Going Broke,” by Jane Wollman Rusoff, ThinkAdvisor “Well-off people can easily go broke paying for sky-high nursing home care: First they deplete their own funds and then, eventually needing Medicaid, spend down nearly all the rest of their assets to qualify for that government program designed for low-income individuals.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is a lie, not just ignorance, because the author, a Medicaid planner, knows better. Going broke for LTC before qualifying for Medicaid is the exception, not the rule. Read
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“Meet Your Friends Who Get Medicaid”
“Meet Your Friends Who Get Medicaid” by Phil Galewitz, NPR “When older middle-class Americans deplete their savings to pay for costly nursing home care, Medicaid offers coverage. The United States has become a Medicaid nation. Although it started as a plan to cover only the poor, Medicaid now touches tens of millions of Americans who live above the poverty line.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): If the first sentence were true, more people would plan for long-term care and stay off Medicaid. Because it’s false, we’re in the mess we’re in. Meet Your
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GoldenCare Newsletter | September 25, 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 “How to cope with health care costs in retirement,” by Steve Vernon, CBS MoneyWatch and “Census Bureau: Most seniors still own homes,” by Lois A. Bowers, McKnight’s Senior Living. Enjoy! Industry Updates: We have several announcements in this edition: From Mutual of Omaha: We have a Quick Tip on quoting with MutualCare Solutions software. Flexible payment form update – all application packets have not been updated, except for New York for
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Genworth 2017 Annual Cost of Care Survey:
Costs Continue to Rise Across All Care Settings 09/26/17 Two-thirds of Americans assume government will partially or fully pay for long term care services RICHMOND, Va., Sept. 26, 2017 /PRNewswire/ — For the 70 percent of people older than 65 who the experts say will need long term care at some point in their lives1, the costs just notched up again. According to the Genworth 2017 Cost of Care Survey released today, the annual median cost of long term care services increased an average of 4.5 percent from 2016 to 2017, the second-highest year-over-year increase for nursing homes and home
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Genworth, Industry News, and Long-Term Care.
December 15, 2017: Deadline for Long Term Care New Business Requirements
As the year comes to a close, to optimize your 2017 placed production, please keep in mind the year-end cutoff for new business is December 15, 2017. Genworth’s final commission cycle will be on December 22, 2017 for all Long Term Care Insurance. Requirements for Final Commission Payment All delivery requirements must be received by December 15, 2017 Applications must be “In Good Order,” which is defined as but not limited to: All application and suitability questions answered All signatures and dates completed All requested information provided All regulatory forms completed accurately and received by Genworth All initial and additional
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Genworth, Industry News, and Long-Term Care.
