Updated Other Than Applied Process

Effective March 1, 2021, the other than applied processes listed below have been updated. Declined Spouse: When both spouses apply and one is declined, underwriting will issue the approved spouse with a reduction in partner allowance percentage and remove Shared Care, if applicable. No hold will occur. Rate Class or Benefit Selection with Shared Care: When one or both spouses are approved other than applied due to rate class or benefit selection, a communication is sent to the application designated contact notifying them of the required changes. We will hold issue for 7 days. Underwriting Evidence: When an application is
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Mutual of Omaha To Sponsor “7 Yards” Documentary

If you’d like to see a story of Mutual of Omaha’s customer focus in action, consider watching “7 Yards”, available on Amazon Prime and Apple TV. This feature-length documentary explores the resilience and perspective of Chris Norton, a college athlete who sustained a debilitating spinal cord injury during a football game in October 2010 that left him with a 3% chance of regaining feeling below his neck. Norton is a Mutual of Omaha policyholder through his affiliation with the NCAA. Although Chris’s special risk policy is not available to the general public, his story is a strong example of the
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Categories: GoldenCare News, Industry News, and Mutual of Omaha (& Affiliates).

REMINDER: Use Correct Version of MutualCare® Solutions Application!

With each round of Mutual of Omaha’s 2020 Pricing & Benefit changes, the impacted states’ applications are being updated. Be sure you’re using the correct version of the MutualCare® Solutions application. Click here to download forms & materials.   Note: Arizona, Connecticut, Indiana and Vermont have approved the changes, effective March 1, 2021. In these four states, the new application pack cover series will end in _0321. Please discontinue use of all old applications based on the transition rules outlined here.     #goldencareagent #mutualofomaha #MOO #longtermcare
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Categories: GoldenCare News, Industry News, and Mutual of Omaha (& Affiliates).

LTC New Business Rate Refresh and Benefit Changes for Additional States

As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our pricing strategy and product offerings are in line with industry trends, internal claims data and the economic environment. Last year, Mutual of Omaha began implementing new rates and benefit option changes to the MutualCare Solutions Portfolio in approved states. Effective March 1, 2021, we will be implementing these changes in four additional states. Impacted States Arizona, Connecticut, Indiana and Vermont Rate Adjustments Premium adjustments may vary by age, sex and benefit selection. You may view the new rates
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

LTCi Application Tips

Painting a picture is the best way to ensure your cases are issued quicker When underwriting your LTCi cases, Mutual of Omaha looks at the total picture, including your client’s health, cognitive status and lifestyle. So, the better job you do painting a picture of your client’s situation, the faster the underwriting process will go. Mutual of Omaha knows your LTCi clients are more than a list of diagnoses. Even people with chronic health conditions can be viewed favorably as long as they’re physically and socially active and working with a physician to manage their health. But underwriting has to
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

LTC Rate Refresh Transition Rule Best Practices

Recently, you should have received our communication outlining the transition rules, implementation dates and benefit option changes to the MutualCare® Solutions Portfolio for the states of Kansas, Maryland, Massachusetts, Pennsylvania and Wisconsin. I want to reinforce how important it is to take note of our transition rules as they were outlined: Old applications signed after October 31, 2020, will not be accepted Old applications signed by October 31st but received by Mutual of Omaha after November 13, 2020 will not be accepted In both scenarios, new applications would be required, and new rates and benefits options would apply. No exceptions
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

Phase 2 LTC New Business Rate Refresh and Benefit Changes

On September 1, 2020, Mutual of Omaha implemented new business rate refresh and benefit option changes to the MutualCare® Solutions Portfolio in 32 states. Effective November 1, 2020, we will be implementing 5 additional states for the rate refresh and benefit changes. The details are outlined below: Impacted States Kansas, Maryland, Massachusetts, Pennsylvania and Wisconsin. Transition Rules New paper and e-Applications for MutualCare Solutions will be required beginning November 1, 2020. The new application pack cover series will end in _1120. Please discontinue use of all old applications based on the transition rules below. The following transition rules will apply:
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

LTC New Business Rate Refresh and Benefit Changes

As a leading long-term care insurance carrier, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our pricing strategy and product offerings are effective. We have been monitoring industry trends, internal claims data and the economic environment over the past several years. As a result, we are refreshing our rates and implementing benefit option changes to the MutualCare® Solutions Portfolio effective September 1, 2020. The details are outlined below: Impacted States Alabama, Alaska, Arkansas, Colorado, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, Ohio,
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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

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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Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).

LTCi Application Tips

Painting a picture is the best way to ensure your cases are issued quicker When underwriting your LTCi cases, Mutual of Omaha looks at the total picture, including your client’s health, cognitive status and lifestyle. So, the better job you do painting a picture of your client’s situation, the faster the underwriting process will go. Mutual of Omaha knows your LTCi clients are more than a list of diagnoses. Even people with chronic health conditions can be viewed favorably as long as they’re physically and socially active and working with a physician to manage their health. But underwriting has to
Read More

Categories: Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).