“Skilled nursing occupancy rates hit their lowest level on record in the fourth quarter of 2016, according to a report released Wednesday. The National Investment Center for Seniors Housing & Care’s Skilled Nursing Data Report shows the national occupancy rate fell from 82.6% to 81.8%, the lowest level since the organization began collecting data in 2011. Occupancy rates also experienced their largest ever year-over-year drop during the fourth quarter. . . . Medicaid remained the top source of patient volume in the fourth quarter of 2016, and continued to cover a growing percentage of total patient days, the report found.
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“Subject: Profile of Older Americans: 2016,” Administration for Community Living
“The annual summary of the latest statistics on the older population, A Profile of Older Americans: 2016, is now available. This profile covers 15 topical areas including population, income and poverty, living arrangements, education, health, and caregiving. A description of the highlights of this document is below and the full document is attached. The profile has proven to be a very useful statistical summary in a user friendly format. It is a web based publication and is posted on the following website: https://aoa.acl.gov/Aging_Statistics/Profile/index.aspx” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This is one of the
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LTCi Success Tips: Get Your Business Issued Quickly
Ten Underwriting Tips Did you know there are things you can do to ensure your LTCi cases are issued quickly? Some are no brainers… like using the correct application. Others may take a little more effort… like including a cover letter. Learn what you can do to help the underwriting process go smoothly. Download the Flyer. #goldencareagent #mutualofomaha
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Good News | Omaha Announces Expanded Team of Case Managers
More LTCi Case Managers = Better Handling Of Your Submitted Cases Every LTCi case submitted to Mutual of Omaha is assigned to a case manager. This person is charged with gathering all material necessary for an underwriter to make a decision, and is responsible for making sure the application is in good order. They monitor the retrieval of medical records and the completion of the health interview. They are your resource for cases that are in underwriting review. The case managers who you will be interacting with are: Derek Goodwin Phone: 402-351-7791 Derek.Goodwin@MutualofOmaha.com Kris McPeake Phone: 402-351-7813 Kris.McPeake@MutualofOmaha.com Lisa Wheeler
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GoldenCare Newsletter | March 13, 2017
In this GoldenCare Newsletter Edition From GoldenCare: Join us for in-depth product training on the hottest products on the market. Click here to register. New product! GTL’s new Short-Term Home Health Care Insurance! This product is already approved in several states and coming to more soon. Please see the Newsletter for current state availability and product details. Be sure to register for an intro here. Don’t miss this Edition’s featured Guest Article is “Technology Comes of Age in the LTC World,” by Patrick Connole, Provider. From Mutual of Omaha: Effective March 1, 2017 Mutual of Omaha will be implementing a
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In-Force Rate Action Announcement: 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 announced our intention to seek premium rate increases on certain Privileged Choice® and Classic Select® policies sold between 2003 and 2012. Virginia 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 policyholders
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Genworth and Long-Term Care.
“The LTC industry should be ashamed,” by Buffy Howard, McKnight’s LTC News
“Long-term care company: How did you not commit to building up your talent? To keeping them plush and pliable so they are bursting with that initial joy and desire to help others. Do you remember how joyful and young and vibrant they looked that day you interviewed prospects? It was obvious they were the pick of the litter. You thought to yourself: ‘I’m going to get tons of mileage out of this one.’ Yeah. You sure as hell did. This nurse isn’t the only one. There are so many of us leaving long term care. We are LEAVING the industry.”
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“Long-term care insurance may become mandatory,” China Daily
“As part of the national effort to defuse a demographic ‘time-bomb’, China is very likely to introduce compulsory long-term care insurance to cope with ever-increasing care needs, particularly for the elderly who have a difficult time living independently due to age, illness or disability, said a national political advisor.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Authoritarian China opts for compulsory government LTCI, but maybe we’ve dodged that bullet fired by three LTC advocacy groups last year. For more, read LTC Bullet: LTC at a Crossroads.” If you’re looking for a silver lining to last
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EssentialLTC Product Approved In Connecticut
National Guardian Life Insurance Company (NGL) is pleased to announce that an additional state has approved their new long-term care insurance plan, EssentialLTC! As of April 3rd, 2017, EssentialLTC will become available for sales in the state of Connecticut! Watch for additional announcements as more states approve the new EssentialLTC product, and begin approving Partnership status. #goldencareagent #NGL
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Getting the Most from LTC Insurance Policies
Some insurance companies offer LTC policies based on a daily benefit amount. Mutual of Omaha’s policies are based on a monthly benefit. While there are similarities between daily and monthly benefits, there are also significant differences. A daily benefit has a per day maximum which means your clients are reimbursed up to a set amount for each day. If the cost of the service is over this amount your client will have to pay the balance. With a monthly benefit, your clients are reimbursed for the actual costs of the services received each day up to the maximum monthly benefit
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