“Genworth Executives Review Long-Term Care Rate Hike Settlements”

“Genworth Executives Review Long-Term Care Rate Hike Settlements,” by Allison Bell, ThinkAdvisor

Quote:

“Genworth had hoped to begin offering a new long-term care insurance policy together with a reinsurer. Instead, the company has decided to start by creating a business that will use less capital. The new Global Care Solutions unit will offer long-term care navigation and advice services based partly on services developed by Genworth’s CareScout unit and the company’s long-term care insurance business. Genworth hopes to launch that business by June 30, 2023, according to Tom McInerney, Genworth’s CEO. ‘The new business will include a digital platform where those in need of long-term care can search for and compare local care options, bolstered by a preferred network of quality senior care providers offering more attractive pricing,’ McInerney said. The business will also be able to help assess what kind of help people need, he said.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Genworth adapts.