“The World Health Organization (WHO) has unanimously adopted a global plan on dementia at the 70th session of the World Health Assembly in Geneva. . . . The plan includes targets for the advancement of dementia awareness, risk reduction, diagnosis, care and treatment, support for care partners and research. . . . Dementia affects 50 million people worldwide – a number that will almost triple by 2050. More than half of all people with dementia live in low and middle income countries, where as few as 10% of individuals receive a diagnosis. In 2018, dementia will become a trillion-dollar disease.”
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Introducing the Marketing Solution Center
Stay in front of your agents with turnkey co-branded materials, tools and resources that promote our products on your behalf. It’s all on our Marketing Solution Center website. Start reaching out today with emails, banner ads, videos, etc. about our: Critical Advantage℠ portfolio’s cancer, heart attack/stroke insurance Medicare supplement insurance MutualCare® Solutions long-term care insurance Priority Income Protection® disability insurance Life insurance Before you begin, read this flyer for details and helpful ideas. Visit the Marketing Solution Center #goldencareagent #mutualofomaha
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“Older Americans Want Medicare to Pay for Long-Term Care,” by Emily Swanson, U.S. News & World Report
“More than half of older Americans — 56 percent — think the federal government should devote a great deal or a lot of effort to helping people with the costs of long-term care, and another 30 percent think it should make a moderate effort to do so. . . . Most also favor tax policies to encourage long-term care planning, including tax breaks to encourage saving for long-term care and the ability to use nontaxable accounts like 401(k)s and IRAs to pay for long-term care insurance premiums. . . . Fifty-seven percent plan to rely on Medicare quite a bit
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“CDC: Those 85+ are six times as likely to need ADL help than those aged 65 to 74,” by Lois A. Bowers, McKnight’s Senior Living
“U.S. adults aged 85 or more years are approximately three times as likely to need assistance with activities of daily living as are adults aged 75 to 84 and are six times as likely to require help as those aged 65 to 74, according to newly released data from the Centers for Disease Control and Prevention.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Key takeaway: boomers start turning 85 in 2031, about the time Social Security and Medicare run out of IOUs in their “trust funds.” Our window of opportunity to prepare for the age
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“Municipalities Grapple With Whether Nursing Homes Should Be Taxpayer-Funded,” by Jennifer Levitz, Wall Street Journal
“In these places, ‘residents want a nursing-home option for themselves in the future, and they’re willing to pay taxes to support that,’ he said. But government-owned and -run facilities often have deficits and have outdated institutional styles that don’t attract the wealthier private-pay customers that offset Medicaid patients, said Jeff Binder, managing director of Senior Living Investment Brokerage Inc. Medicaid payments also face uncertainty, with the new White House budget proposing heavy cuts to the federal-state health program for the poor.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Medicaid made nursing home care free in
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In-Force Rate Action Announcement: Wyoming (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 began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 18.8% premium increase in Wyoming. 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 2016, we began requesting the
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Genworth, Industry News, and Long-Term Care.
In-Force Rate Action Announcement: West Virginia (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 began to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Subsequently, we received approval for, and implemented, a 12.8% premium increase in West Virginia. 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 2016, we began requesting
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Genworth, Industry News, and Long-Term Care.
“Americans Are Baffled By Long-Term Care Financing, But Want Medicare To Pay For It,” by Howard Gleckman, Forbes
“Growing public support for a Medicare long-term care benefit is an important trend that could someday help convince Congress to pass such a proposal.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Another visit to this writer’s broken-record fantasy world. All but the poor will lose Medicare before the insolvent entitlement program expands to cover long-term care. Americans Are Baffled By Long-Term Care Financing, But Want Medicare To Pay For It #goldencareagent #medicare
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“Retirement Savings Gap Seen Reaching $400 Trillion by 2050,” ThinkAdvisor
“Longer life spans and disappointing investment returns will help create a $400 trillion retirement-savings shortfall in about three decades, a figure more than five times the size of the global economy, according to a World Economic Forum report. That includes a $224 trillion gap among six large pension-savings systems: the United States, the United Kingdom, Japan, Netherlands, Canada and Australia, according to the report issued Friday. China and India account for the rest.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Need some help imagining how much $400 trillion is? Check this out and multiply by
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“Survey: 75% of 40+ adults do not know how much assisted living costs,” by Lois A. Bowers, McKnight’s Senior Living
“Only 25% of adults queried by investigators at the Associated Press-NORC Center for Public Affairs Research correctly estimated costs, which the center said average $3,000 to $4,000 per month, whereas 44% underestimated them and 30% overestimated them. Underestimating has grown since the first surveys were conducted in 2013 and 2014, when it was 31%, according to center representatives.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Ignorance is bliss, until . . . Survey: 75% of 40+ adults do not know how much assisted living costs #goldencareagent #assistedliving
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