Temporary Asset Care product changes for Washington state, effective July 31 The WA Cares Fund in Washington state has opened the door to important conversations about the potential impact of a long-term care (LTC) event, resulting in increased demand for our asset-based strategies. OneAmerica® is committed to ensuring those seeking alternative or additional coverage to the Washington plan have options. Therefore, to help meet the LTC protection needs for policyholders, as well as the needs of our distribution partners, we are implementing the following temporary changes effective Saturday, July 31: Return of premium: Return of premium (ROP) option will be
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NGL EssentialLTC – WA Annual Premium Clarification
Washington Annual Premium Minimum As a reminder, there is a new annual premium minimum of $2,000 in effect for Washington state. To clarify what this means for different payment options, please see below for a breakdown of this minimum based on payment mode: $2,000 – Annual Premium $1,040 – Semi-Annual Premium $540 – Quarterly Premium $175 – Monthly Premium Please note, the minimum annual premium for a joint application is only $2,000 total, not $2,000 per applicant. These minimums are only applicable to Washington applications and are only in place through November 1, 2021. New Business NGL is processing the
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SecureCare and the WA Cares Fund exemption
SecureCare likely qualifies for WA Cares Fund exemption The state of Washington created the WA Cares FundSM to address the future long-term care (LTC) crisis. The fund provides an LTC benefit for all eligible workers, which will be funded by a payroll tax that begins in January 2022. Benefits will be paid in $100 stackable units, with a lifetime maximum of $36,500 (adjusted for inflation). The benefit will be funded by a payroll tax that begins in January 2022. However, Washington residents who have a personal LTC insurance policy issued before November 1, 2021 can apply for an exemption from
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NGL EssentialLTC – New Washington state premium minimum
New Washington state premium minimum Due to the recent Washington Cares Fund, National Guardian Life Insurance Company (NGL) is experiencing a very high volume of low premium LTCi new business applications from Washington, many of which are less than one-third NGL’s average LTCi premium per policy. NGL is taking steps to increase the likelihood applicants are purchasing LTCi protection for the long term. NGL is instituting a new premium minimum in Washington state only: Effective Wednesday, July 7, 2021, all WA applications must have a minimum annual premium of $2,000. The other previously announced benefit minimums will no longer in
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NGL EssentialLTC Washington State Cares Fund Reminder
Washington State Cares Fund Reminder As a reminder NGL has instituted new policy minimum benefits, underwriting requirements and administrative changes in Washington State only. To provide coverage similar to the benefits available through the Washington Cares Fund: The minimum Daily Benefit Amount available is $100. Applications with $50 – $90 Daily Benefit Amounts will not be accepted. The applicant must choose an inflation option. Applications with no inflation will not be accepted. Facility only applications will not be accepted. Underwriting: If an applicant in Washington has not been seen by a physician in the last 24 months, they will be
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Washington Cares Fund – CURRENT AND UPDATED NEWS
GoldenCare has received many questions related to the Washington Cares Fund, and want to help position you for success. We’ve gathered key details here, ranging from the informative consumer website, LTCi carrier news and updates, to news articles and related stories. WA Cares Fund consumer website http://www.wacaresfund.wa.gov/private-insurance/ Special GoldenCare Training Event With LTC Expert Steve Moses YOU ASKED. WE LISTENED! The impacts of the COVID-19 pandemic and the Washington LTSS Trust Act are among the top concerns noted by our agents. Join us for an LTCi Industry Impacts presentation with one of the most influential and respected people in long-term
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Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
insurance, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, mutual of omaha, MutualCare, MutualCare Solutions, National Guardian Life, National Guardian Life Insurance Company, NGL, omaha, paramed, Steve Moses, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, Underwriting', WA Cares Act, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
insurance, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, mutual of omaha, MutualCare, MutualCare Solutions, National Guardian Life, National Guardian Life Insurance Company, NGL, omaha, paramed, Steve Moses, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, Underwriting', WA Cares Act, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
Thrivent LTC: Temporary app processing delays
Expect temporary LTC application processing delays Work is underway to process unprecedented influx of LTC applications One of Thrivent’s commitments is to provide a consistently high-quality service experience. We’re honoring this commitment by communicating with you transparently about a current service disruption. Since late May, Long Term Care Group (LTCG) has received an unprecedented volume of long-term care (LTC) applications. This volume is causing delays in the processing of LTC applications and the ability to respond promptly to inquiries. What’s causing the influx The Washington State Legislature established a long-term care insurance benefit for all eligible workers funded by a
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Industry News, Long-Term Care, and Thrivent.
insurance, Long-Term Care, long-term care insurance, LTC, LTCi, producer guide, rider compatibility, rider compatibility chart, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, WA Cares Act, WA Cares Fund, WA LTSS Trust Act, WA State, and WA Trust Act.
insurance, Long-Term Care, long-term care insurance, LTC, LTCi, producer guide, rider compatibility, rider compatibility chart, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, WA Cares Act, WA Cares Fund, WA LTSS Trust Act, WA State, and WA Trust Act.
SUSPENDED IMMEDIATELY: Thrivent Long-Term Care Changes In WA
SUSPENDED IMMEDIATELY: Thrivent long-term care sales in WA through independent agents/third party advisors As a leading long-term care insurance carrier, Thrivent has a responsibility to our contract holders and distribution partners to ensure that product offerings are being used in a manner consistent with their original intent to protect clients against the risk of long-term care expenses. Effective 3 PM PDT / 5 PM CDT today (6/17/21), Thrivent will suspend long-term care sales in the state of Washington through independent agents/third party advisors. The details: This cessation of long-term care sales is limited to the state of Washington and to
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Industry News, Long-Term Care, and Thrivent.
insurance, Long-Term Care, long-term care insurance, LTC, LTCi, producer guide, rider compatibility, rider compatibility chart, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, WA Cares Act, WA Cares Fund, WA LTSS Trust Act, WA State, and WA Trust Act.
insurance, Long-Term Care, long-term care insurance, LTC, LTCi, producer guide, rider compatibility, rider compatibility chart, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, WA Cares Act, WA Cares Fund, WA LTSS Trust Act, WA State, and WA Trust Act.
Important Announcement Regarding Long-Term Care Insurance in the State of Washington
Details about Washington State’s mandated long-term care law and payroll tax are slowly emerging. Even so there are so many unknowns and the opt-out provisions are vague. With so much left unclear, the looming deadline and things changing so quickly, Mutual of Omaha is responding with caution, taking an observational approach. From the Desk of Tess Grace Effective immediately, Mutual of Omaha is suspending long-term care sales in the state of Washington. Here’s what you need to know: Applications submitted on or before the end of the day June 16, 2021, will be processed as normal. All pending in-house
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Washington Cares Fund – Update
GoldenCare has received many questions related to the Washington Cares Fund, and want to help position you for success. We’ve gathered key details here, ranging from the informative consumer website, LTCi carrier news and updates, to news articles and related stories. WA Cares Fund consumer website http://www.wacaresfund.wa.gov/private-insurance/ Long-Term Care Insurance Case Monitoring Update June 24, 2021 Mutual of Omaha has experienced a large influx of long-term care application submissions over the past several weeks due to the WA Cares Fund. This increase in submissions has caused a slight delay in entering LTC applications into our back-office systems and subsequently
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Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
insurance, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, mutual of omaha, MutualCare, MutualCare Solutions, National Guardian Life, National Guardian Life Insurance Company, NGL, omaha, paramed, Steve Moses, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, Underwriting', WA Cares Act, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
insurance, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, mutual of omaha, MutualCare, MutualCare Solutions, National Guardian Life, National Guardian Life Insurance Company, NGL, omaha, paramed, Steve Moses, Thrivent, Thrivent Financial, Thrivent Financial for Lutherans, Underwriting', WA Cares Act, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
