“LTC Global, Inc. today announced that Gene Arsenault has joined the company as Director of Business Development. Prior to joining LTC Global, Arsenault served 12 years as National Director of Long Term Care Insurance Sales for John Hancock.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Congratulations, Gene, and all the best in your new position. LTC Industry Veteran Gene Arsenault Joins LTC Global #goldencareagent
Read More
“Blame Technology, Not Longer Life Spans, for Health Spending Increases,” by Austin Frakt, New York Times
“The real culprit of increased spending? Technology. Every year you age, health care technology changes — usually for the better, but always at higher cost. Technology change is responsible for at least one-third and as much as two-thirds of per capita health care spending growth. After accounting for changes in income and health care coverage, aging alone can explain only, at most, a few percentage points of spending growth — a conclusion reached by several studies.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Thanks to Center Premium Elite member Honey Leveen for drawing our attention
Read More
“Trump’s Health Plan Would Convert Medicaid to Block Grants, Aide Says,” by Robert Pear, New York Times
“President Trump’s plan to replace the Affordable Care Act will propose giving each state a fixed amount of federal money in the form of a block grant to provide health care to low-income people on Medicaid, a top adviser to Mr. Trump said in an interview broadcast on Sunday. The adviser, Kellyanne Conway, who is Mr. Trump’s White House counselor, said that converting Medicaid to a block grant would ensure that ‘those who are closest to the people in need will be administering’ the program.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): We support block
Read More
In-Force Rate Action Announcement: Kentucky
In August 2012, we announced our intention to seek premium rate increases on certain blocks of comprehensive long term care insurance policies, including Pre-PCS, PCS 1, PCS II, and Choice 1. During the course of 2012-2014, we implemented rate increases on these blocks of business. In some states, the full requested increase was not received. Genworth began submitting requests in these states during the second half of 2014. Kentucky has now allowed our requested increase, and the details of the implementation of this premium change can be found within the announcement. Servicing agents will receive a list of their impacted
Read More
Genworth and Long-Term Care.
In-Force Rate Action Announcement: Kentucky (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. Subsequent to that announcement, we received approval for, and implemented, a 12.8% premium increase in Kentucky. 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
Read More
Genworth and Long-Term Care.
In-Force Rate Action Announcement: Kentucky 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. Kentucky has
Read More
Genworth and Long-Term Care.
A.M. Best Reaffirms A- Excellent Rating of NGL
January 3, 2017 Madison, Wis. – National Guardian Life Insurance Company (NGL) is pleased to announce that A.M. Best has recently reaffirmed its A- (Excellent) rating. This rating reflects the excellent ability of NGL to meet its ongoing insurance policy and contract obligations and further attests to its financial strength. “The A- Excellent rating further demonstrates our commitment to over 1.2 million policyholders and 28,000 independent agents who depend on NGL as a strong and reliable insurance company. NGL has the financial strength to be there when needed,” said Brian Hogan, Senior Vice President and Chief Financial Officer at NGL.
Read More
GoldenCare’s Updated 2017 Individual Tax Guide Now Available
With the IRS recently having announced the 2017 LTCi Premium Deductibility Limits, we’ve updated our GoldenCare Individual Tax Guide. The benefits of purchasing long-term care insurance are far-reaching, more so than most people think. In addition to safeguarding retirement funds and a nest-egg from the potential impact of needing LTC services, premiums paid may also provide clients with a tax deduction each year! Click Here To View/Print This Updated Guide #goldencareagent
Read More
“Hybrid Insurance Policies Gaining Steam,” by Eleanor Laise, Kiplinger
“Consumers who are skeptical of traditional long-term-care insurance are snapping up ‘hybrid’ policies combining life insurance with long-term-care benefits. But are these products really a better way to manage the risk of catastrophic long-term-care costs? … “The sales pitch is simple: By paying a single premium or series of set premiums, you avoid the risk of future premium increases—an issue that has plagued traditional long-term-care policies. And many consumers have balked at the ‘use it or lose it’ nature of traditional long-term-care policies; the hybrid’s potential death benefit removes that concern. “But those advantages aren’t as clear-cut as they sound.
Read More
“UnitedHealth to take $350 million LTCI guaranty fund charge,” by Allison Bell, LifeHealthPRO
“UnitedHealth never sold any long-term care insurance, but state guaranty funds are requiring UnitedHealth and other health insurers to pay assessments to cover the cost of protecting the policyholders of Penn Treaty Insurance Company and a sister company. Pennsylvania regulators are in the process of liquidating both companies, after concluding that the company’s reserves cannot support the LTCI coverage the companies wrote.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): The “risk pool” for insurers. UnitedHealth to take $350 million LTCI guaranty fund charge #goldencareagent
Read More
