“A Portsmouth company that fills a unique niche in the insurance market is confident its services will be in demand for years to come. Long Term Care Partners on Arboretum Drive is a third-party administrator of insurance services for federal employees. Under a seven-year contract regulated by the U.S. Office of Personnel Management, LTC is responsible for the Federal Long Term Care Insurance Program, which has about 275,000 enrollees and an eligible population of 4.4 million-plus federal employees, annuitants and qualified family members. . . . Chief Executive Officer Paul Forte said Friday that working with the federal government to
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“Long-Term Care insurance facing major pricing shift,” by Michelle Singletary, Washington Post
“Rather than keeping premiums steady for several years and then having to impose huge double-digit rate hikes, Genworth, one of the largest providers of long-term care insurance, wants to be have the ability to change premiums annually, reports Forbes contributor Howard Gleckman.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The Washington Post regurgitates the Forbes column we reported in an April 6 LTC Clipping: “We May Be About To See A Big Change In How Long-Term Care Insurance Is Priced.” Kudos to Genworth for a creative approach to the premium increase problem that even this
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“Short-Term Care Insurance: An Alternative to the Long-Term Care Variety,” ElderLawAnswers
“A little-known insurance option can be an answer for some people who might need care but are unable to buy long-term care insurance. Short-term care insurance provides coverage for nursing home or home care for one year or less. As long-term care premiums rise, short-term care insurance is gaining in popularity. This type of insurance is generally cheaper than its long-term care counterpart because it covers less time. Purchasers can choose the length of coverage they want, up to one year. According to the American Association for Long-Term Care Insurance a typical premium for a 65-year-old is $105 a month.”
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“Medicare Recipients Experience Multiple Care Transitions at End of Life,” Psychiatry Advisor
“More than one-third of Medicare beneficiaries who died in 2011 had at least 4 care transitions during their last 6 months of life, according to a study published online in the Journal of the American Geriatrics Society. . . . There was substantial geographic variation in the average number of transitions in the last 6 months of life, ranging from 1.8 in Alaska to 3.1 in New Jersey. For decedents approaching death, transitions became more intensive. Four or more transitions were more likely in women, blacks, individuals younger than 85 years, and individuals without dementia.” LTC Comment (from Stephen A.
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NGL Email Confirmation for Faxes
We have great news for agents who fax in corrections for new business applications or other policy-related documents to fax number 608.443.5368. People faxing requests will now receive a convenient email confirmation as a fax receipt! Emailed confirmations will be generated between 8 a.m. – 4:30 p.m. CST, Monday – Friday, and will be sent within two hours of receipt of the fax. Is your email address accurate? Take a minute to review your listed email address in your user profile at MyNGLIC.com. Please keep in mind if the application is being faxed a second time: Please check “yes” on
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“Canadian Brain Health Diet Shows Promise in Reducing Risk of Alzheimer’s Disease,” by Patrick Connole, Provider
“Preliminary research by Toronto-based scientists offers further encouragement to the growing field of study that shows ‘brain-friendly’ diets for people approaching middle age or well into their senior citizen years can help reduce the risk of Alzheimer’s disease (AD). Called the Canadian Brain Health Food Guide, the creation seeks to influence individuals and institutions to choose smarter foods like beans, whole grains, and nuts over prepackaged foods lacking in the nutrients scientists say are needed to protect brain cells and stem disease. Preliminary results for the Canadian entry into the brain-friendly field (joining the well-known Mediterranean Diet, among others) produced
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In-Force Rate Action Announcement: Tennessee AARP (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 Tennessee. 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 and Long-Term Care.
In-Force Rate Action Announcement: Maryland AARP (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. At the time, larger increases were justified, based on projected experience, but rate stability requirements prevented us from requesting the fully justified amount. In 2016, we began requesting the full amount in states that previously allowed our 2013 ask. Maryland has
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Genworth and Long-Term Care.
Good News | 3-in-1 Promotion 4th Quarter Winners
Announcing GoldenCare’s Winners of the 3-in-1 Promotion’s Bonus Cash Drawing (4th Quarter) All of GoldenCare’s Mutual of Omaha Custom Solution LTCi business submitted during the fourth quarter of our 3-in-1 Promotion has been finalized! We are pleased to announce the GoldenCare winners of the Bonus Cash Drawing for the 4th Quarter of 2016. (The Bonus Cash Drawing includes 20 prizes, totaling $5,000.) The winners are: $1,000 (one winner) • Sam M. – WI $500 (three winners, one from GoldenCare territory) • Brian A. – WI $250 (six winners, three from GoldenCare territory) • Paul W. – IN • Randy
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“Assisted living occupancy falls to lowest level since 2010,” by Lois A. Bowers, McKnight’s Senior Living
“Occupancy for assisted living in the first quarter of 2017 averaged 87.2%, its lowest level since early 2010, according to data released Wednesday by the National Investment Center for Seniors Housing & Care’s MAP Data Service. The first-quarter rate was down 0.5 percentage points from the fourth quarter of 2016 and down 1.0 percentage points from year-earlier levels.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): ALFs should encourage adult children of residents to plan for LTC with LTCI to help with occupancy long-term. Assisted living occupancy falls to lowest level since 2010 #goldencareagent
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