GoldenCare Newsletter | April 10, 2017

In this GoldenCare Newsletter Edition From GoldenCare: Join us for Mutual of Omaha and CareShield  in-depth product training! Don’t miss our Guest Article “Falls Are Taking a Huge and Rising Toll on Elderly Brains,” by Mike Stobbe, Associated Press. Click Here for our full schedule. Industry Updates: Mutual of Omaha has several updates and announcements. Did you know LTCi quotes can be run quickly on any Apple or Android device?  See the Newsletter for details on Quotes on the Go. Sales Professional Access now has a search feature to make it easier to find the information you need! As of
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Categories: Genworth, GoldenCare News, Guarantee Trust Life, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

“To Help Ward Off Alzheimer’s, Think Before You Eat,” by Judith Graham, Kaiser Health News

“Diets designed to boost brain health, targeted largely at older adults, are a new, noteworthy development in the field of nutrition. The latest version is the Canadian Brain Health Food Guide, created by scientists in Toronto. Another, the MIND diet, comes from experts at Rush University Medical Center in Chicago and Harvard T.H. Chan School of Public Health. Both diets draw from a growing body of research suggesting that certain nutrients — mostly found in plant-based foods, whole grains, beans, nuts, vegetable oils and fish — help protect cells in the brain while fighting harmful inflammation and oxidation. Both have
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Categories: Industry News and Long-Term Care.

Update BCBS of Florida Rate Increase Action

We are currently in the process of raising rates on all BCBS of Florida Long Term Care insurance policies. This notice is to inform you that we have received rate approval from the Florida Office of Insurance Regulation and are implementing the rate increase activity in this state. The approved rate increase is age-banded with a 25% increase for insureds with issue ages less than 51 with the increase decreasing linearly to 0% for issue age 80 and over. Commissions will not be paid on the increased premium. A notification letter describing the premium rate increase will be mailed to
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Categories: Long-Term Care and MedAmerica.

LTCi Quotes on the Go

Did you know LTCi quotes can be run quickly on any Apple or Android device? Our mobile app is convenient and easy to use whenever the need arises, wherever your client or appointment may be. It’s available for a variety of life and health products, but be sure to update the app regularly. (Even if automatic updates are turned off, notifications will still be received.) DOWNLOAD THE APP TODAY      >      Requires iOS7 or Android 4.0 and up. CURRENTLY AVAILABLE: >      Cancer, Heart Attack and Stroke >      Children’s Whole Life >      Critical Illness >      Guaranteed ADvantage >      Guaranteed Universal Life Express >      Living Promise >      Long-Term Care Insurance >      Medicare Supplement
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Categories: Critical Illness, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).

“Boomerang seniors: Aging adults move to be near Mom or Dad,” by Sharon Jayson, USA Today

“The Joneses are great-grandparents. Yet they’re among a growing group of seniors with a living parent, which means these 21st-century post-retirement years might well include parental caretaking. Expectations are altered amid the new reality of longer life expectancy and growing numbers of aged Americans.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): It’s the double-decker, Club-sandwich generation. Boomerang seniors: Aging adults move to be near Mom or Dad #goldencareagent
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Categories: Industry News and Long-Term Care.

In-Force Rate Action Announcement: New Jersey (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. New Jersey has now allowed our requested increase, and the details of the implementation of this premium change can be found within the announcement. This rate increase also applies to AARP policies. Servicing agents will receive a list of their impacted
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Categories: Genworth and Long-Term Care.

Genworth Launches eSuite of New Business Tools

Genworth is launching an eSuite of new business tools on April 3, 2017. Genworth’s eSuite of new business tools provides a paperless solution for the entire selling process. Genworth’s eSuite of New Business Tools includes: Updated Quoting We have made some enhancements to our quoting experience. One enhancement is the addition of our Element Packages within the quoting tool. The updated quote also displays side by side product descriptions so you can quickly select between an Element package or customize Privileged Choice® Flex 3 plan. eApplication The application is still the application, but our eApplication (eApp) is more than just
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Categories: Genworth and Long-Term Care.

“Policyholders in Limbo After Rare Failure of Insurer,” by Mary Williams Walsh, New York Times

“Something unusual happened last month: A good-size American insurer, Penn Treaty of Allentown, Pa., was ordered to liquidate and wind down its affairs. Its demise will orphan tens of thousands of policyholders — people who bought its long-term-care insurance to shield their families from crushing nursing home costs.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Not to beat a dead horse, but this story is in the New York Times so merits notice as so many will read it. Policyholders in Limbo After Rare Failure of Insurer #goldencareagent
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Categories: Industry News and Long-Term Care.

“Reverse mortgages have an image problem,” by Mary Beth Franklin, InvestmentNews

“A rose by any other name may smell just as sweet, but when it comes to a home equity loan, one that is labeled ‘reverse mortgage’ just plain stinks. That’s the conclusion of new research released Wednesday by the National Council on Aging (NCOA), a nonprofit advocacy group supporting older adults. Like it or not, finding ways to unlock home equity may hold the key to retirement security for many aging baby boomers.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): What a strange opening sentence for an article singing the praises of reverse mortgages. RMs
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Categories: Industry News and Long-Term Care.

“U.S. Nursing Homes Struggle in Ever-Tougher Market,” by Hoag Levins, Leonard Davis Institute of Health Economics

“The U.S. nursing home business faces daunting economic and policy challenges as it moves toward a massive wave of baby boomers aging into infirmity, according to a gathering of industry executives at the University of Pennsylvania’s Leonard Davis Institute of Health Economics (LDI). Convened to gather raw material for a formal report on suggested reforms for the Centers for Medicare and Medicaid Services (CMS), the National Summit on the Future of America’s Nursing Home Industry focused on the changing demographics, reimbursement models, clinical practices, and government rules of elder care facilities. Keynote speaker and Summit organizer, John Whitman’s opening ‘State
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Categories: Industry News and Long-Term Care.