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/
 


Mutual of Omaha Logo

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 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 in for application status until normal processing times return. Thank you for your patience, and we will continue to update you regularly on the status of your LTCi business.
 
Important Announcement Regarding Long-Term Care Insurance in the State of Washington
June 16, 2021 Read More

Washington State Long-Term Care Insurance Product Offering Update
June 7, 2021 Read More

Washington State Underwriting and Compensation Updates
May 19, 2021 Read More


NGL Logo

New Washington state premium minimum
July 2, 2021
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 be effect and will be replaced by the $2,000 annual premium minimum.
  • Please note, the minimum annual premium for a joint application is only $2,000 total, not $2,000 per applicant.

Any application below the $2,000 minimum will not be processed if received by our administrative office after July 6, 2021, regardless of application signature date.
 
Washington State Cares Fund Reminder
June 24, 2021 Read More

NGL EssentialLTC Washington State Trust Act Update
May 24, 2021 Read More

Washington State Long Term Care Trust Act
April 22, 2021 Read More


Thrivent Logo

SUSPENDED IMMEDIATELY: Thrivent long-term care sales in WA through independent agents/third party advisors
June 17, 2021
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 independent agents/ 3rd party advisors.
  • Applications submitted on or before this cutoff date/time, will be processed as normal.
  • All pending in-house business will be processed as normal.
  • Any applications received after this cutoff date/time will not be accepted. No exceptions will be made.
  • eApp will error out if/when an advisor attempts to submit a long-term care application for a WA state resident.

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.

We anticipate resuming long-term care sales through independent agents/third party advisors later this year and will keep you posted on this.
 
Thrivent LTC: Temporary app processing delays
June 14, 2021 Read More

Washington State LTC Update
May 24, 2021 Read More


Articles

6/21/2021:Insurers Try to Avoid Collision With State LTCI Program,” by Allison Bell, ThinkAdvisor
Read More

 

6/18/2021:Going, Going, Gone,” by Elizabeth Hovde, Washington Policy Center
Read More

 

6/14/2021:Meetings, rules and deadlines push long-term care law along,” by Elizabeth Hovde, Washington Policy Center
Read More

 

6/8/2021:Details about the state’s mandated long-term care law and payroll tax are slowly emerging,” by Elizabeth Hovde, Washington Policy Center
Read More

 

5/17/2021:How to opt out of coming payroll tax,” by Elizabeth Hovde, Washington Policy Center
Read More

 

For more information about the WA Cares Fund, view the consumer website at: http://www.wacaresfund.wa.gov/private-insurance/
 

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