Read Full GoldenCare Newsletter, August 10, 2020 Edition In this GoldenCare Newsletter Edition From GoldenCare: Diversify your portfolio for greater sales success! Join us for product and sales live and prerecorded training. Stay up-to-date on all the latest and greatest in the industry. For a list of current topics and to get in on the discussion Click Here. Appoint with all the Top Carriers LTCCEO Updates: NEW UPDATE! If you haven’t updated yet or you haven’t got your copy, contact us today to find out how! Current installs: Double click “Check for Updates” on your desktop to receive
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“When Covid-19 Hit, Many Elderly Were Left to Die”
“When Covid-19 Hit, Many Elderly Were Left to Die,” by Matina Stevis-Gridneff, Matt Apuzzo and Monika Pronczuk, New York Times Quote: “Of all the missteps by governments during the coronavirus pandemic, few have had such an immediate and devastating impact as the failure to protect nursing homes. Tens of thousands of older people died — casualties not only of the virus, but of more than a decade of ignored warnings that nursing homes were vulnerable. Public health officials around the world excluded nursing homes from their pandemic preparedness plans and omitted residents from the mathematical models used to guide their
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Clippings, Industry News, and Long-Term Care.
“Dementia on the Retreat in the U.S. and Europe’”
“Dementia on the Retreat in the U.S. and Europe,” by Gina Kolata, New York Times Quote: “Despite the lack of effective treatments or preventive strategies, the dementia epidemic is on the wane in the United States and Europe, scientists reported on Monday. The risk for a person to develop dementia over a lifetime is now 13 percent lower than it was in 2010. Incidence rates at every age have steadily declined over the past quarter-century. If the trend continues, the paper’s authors note, there will be 15 million fewer people in Europe and the United States with dementia than there are
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Clippings, Industry News, and Long-Term Care.
“Long-term care groups, 490 others, call for enactment of COVID-related legal protections ‘as soon as possible’”
“Long-term care groups, 490 others, call for enactment of COVID-related legal protections ‘as soon as possible’,” by Lois A. Bowers, McKnight’s Senior Living Quote: “Proposed legislation that would protect healthcare providers from COVID-19-related lawsuits ‘is critically needed and should be enacted as soon as possible,’ 495 organizations, including several associations representing senior living and other long-term care providers, wrote in a letter to all members of Congress.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): Averting a feeding frenzy by trial attorneys or sheltering deficient Medicaid care from redress?
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Clippings, Industry News, and Long-Term Care.
“COVID-19 May Fix GE’s Long-Term Care Problem”
“COVID-19 May Fix GE’s Long-Term Care Problem,” by Adam Levine-Weinberg, Seeking Alpha Quote: “In early 2018, GE took a $9.5 billion pre-tax charge and announced that it would have to add nearly $15 billion to its long-term care insurance reserves by 2024. Many investors have continued to worry that GE would eventually need to set aside even greater reserves. The COVID-19 pandemic appears to have sparked an uptick in long-term care policy terminations, reducing future liabilities. With long-term care premiums rising and skilled-nursing facilities increasingly seeming dangerous, policy terminations could continue in the quarters ahead. GE stock has fallen too
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Clippings, COVID-19, Industry News, and Long-Term Care.
“COVID-19 long-term toll signals billions in healthcare costs ahead”
“COVID-19 long-term toll signals billions in healthcare costs ahead,” by Caroline Humer, Nick Brown, Emilio Parodi, Reuters Quote: “With mounting evidence that some COVID-19 survivors face months, or possibly years, of debilitating complications, healthcare experts are beginning to study possible long-term costs.” LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform): This may offset savings on reserves from pandemic deaths of people insured for long-term care.
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Clippings, COVID-19, Industry News, and Long-Term Care.
Premium Repayment Plans
Mutual of Omaha remains committed to helping our customers during these challenging times. We continue to follow regulatory guidance on a state-by-state basis regarding extending grace periods and/or non-cancellation/non-renewal requirements on insurance policies. In certain circumstances, clients who have been impacted by the COVID-19 pandemic may be eligible for repayment plans on their deferred premiums. Please direct any clients who inquire about their repayment options to contact Policyowner Services at 800-775-6000. Premium Repayment Plans #goldencareagent #mutualofomaha
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COVID-19, Critical Illness, Dental, Disability Income Insurance, Industry News, Life Insurance, Long-Term Care, Medicare Supp./Adv., and Mutual of Omaha (& Affiliates).
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Good News | Electronic Health Records Pilot Launches Monday For Omaha LTCi
Human API Pilot for LTC Applications Beginning August 10, 2020, Mutual of Omaha will launch a new pilot with Human API to obtain your clients’ electronic health records as part of our underwriting process. This pilot will include Fully Underwritten MutualCare® Solutions Long-Term Care products where ordering of medical records is required. By partnering with Human API, we can provide your clients a simple and secure way to share their health data with Mutual of Omaha. Client participation is completely optional. Click for more information and access to an FAQ Click Here to add additional carriers & products
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You Can Avoid LTCi Application Pitfalls
Did You Know? You can avoid these LTCi application pitfalls It’s a jungle out there. There’s a lot for you to remember, and LTCi is a complicated product. And you certainly don’t want to get through the sales process only to have the application declined, postponed, or withdrawn. Mutual of Omaha’s underwriting team offers these tips to help you avoid LTCi application pitfalls: If clients haven’t had a physical and lab work in the past 2 years, there’s no way to know if they’re healthy. Mutual of Omaha will not be able to insure someone who has not met this
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Help Clients Preserve Their Estate with the LTC Rider
Many people work a lifetime to accumulate assets to pave the way for a comfortable retirement and to leave an inheritance for their children. The last thing anyone wants is to see their hard-earned savings depleted to pay for long-term care services. Long-term care services, however, can quickly erode a client’s assets. The Help Preserve Your Client’s Estate sales idea discusses the need for long-term care services. It also includes a case study that examines the impact a life insurance policy with a long-term care rider can have on a client’s estate using two contrasting scenarios. For even more information
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Industry News, Life Insurance, Long-Term Care, and Mutual of Omaha (& Affiliates).
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