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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Tom Randall’s Call to Action: Start the Long-Term Care conversation NOW!
From the Desk of Tom Randall Regardless of Which State They Live In… the WA Cares Fund Program MATTERS to Your Clients! It’s Very Important You Understand the New Washington Cares Fund Program. Here’s why, and what you need to tell your clients and prospects! Effective 1/1/22, Washington workers will pay an EXTRA tax of $0.58 per every $100 of earnings… with NO Maximum Limit! If you make $100,000, you would owe an EXTRA $580 tax/year… Even at $50,000, that’s an EXTRA $290 tax/year Worked harder? If you’re at $500,000, that’s an EXTRA $2900/year! For that EXTRA $290 – $2900 tax/year,
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GoldenCare News, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
Tom Randall’s Call to Action: Start the Long-Term Care conversation NOW!
From the Desk of Tom Randall Regardless of Which State They Live In… the WA Cares Fund Program MATTERS to Your Clients! It’s Very Important You Understand the New Washington Cares Fund Program. Here’s why, and what you need to tell your clients and prospects! Effective 1/1/22, Washington workers will pay an EXTRA tax of $0.58 per every $100 of earnings… with NO Maximum Limit! If you make $100,000, you would owe an EXTRA $580 tax/year… Even at $50,000, that’s an EXTRA $290 tax/year Worked harder? If you’re at $500,000, that’s an EXTRA $2900/year! For that EXTRA $290 – $2900 tax/year,
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GoldenCare News, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
Call to Action: Start the Long-Term Care conversation NOW!
From the Desk of Tom Randall Regardless of Which State They Live In… the WA Cares Fund Program MATTERS to Your Clients! It’s Very Important You Understand the New Washington Cares Fund Program. Here’s why, and what you need to tell your clients and prospects! Effective 1/1/22, Washington workers will pay an EXTRA tax of $0.58 per every $100 of earnings… with NO Maximum Limit! If you make $100,000, you would owe an EXTRA $580 tax/year… Even at $50,000, that’s an EXTRA $290 tax/year Worked harder? If you’re at $500,000, that’s an EXTRA $2900/year! For that EXTRA $290 – $2900 tax/year,
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GoldenCare News, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
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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Long-Term Care Insurance Case Monitoring Update
From the Desk of Allen Gregoire Mutual of Omaha is pleased to announce the long-term care back-office data entry of applications has returned to normal processing times. Applications and all case status updates are now visible on Sales Professional Access (SPA), including application received date. Note: Due to the ongoing influx of business, telephone interview availability is limited. Currently, interviews are being schedule 2-3 weeks out from when requested by underwriting. We encourage you and your agents to check SPA to review your case status updates as our teams work diligently to process your LTCi cases as quickly as possible.
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COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions, MutualCare Solutions LTC, MutualCare Solutions LTCi, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
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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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Long-Term Care Insurance Case Monitoring Update
From the Desk of Allen Gregoire 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 your case status appearing on Sales Professional Access (SPA). Our teams are working diligently to process LTCi cases as quickly as possible; however, until they are entered into our system, we are unable to confirm the application received date. We encourage you to check the website for updates rather than calling
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COVID-19, Industry News, Long-Term Care, and Mutual of Omaha (& Affiliates).
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions, MutualCare Solutions LTC, MutualCare Solutions LTCi, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
assessment, case submission, insurance, insurance company, long-term, Long-Term Care, long-term care insurance, LTC, LTC application, LTCi, Mutual, mutual of omaha, Mutual of Omaha Insurance Company, MutualCare, MutualCare Solutions, MutualCare Solutions LTC, MutualCare Solutions LTCi, MutualCare Solutions Product, omaha, policy, WA Cares Fund, WA LTSS Trust Act, and WA Trust Act.
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.
