August 25, 2020 | Long-Term Care Newsletter
ARM Home Office Labor Day Hours

ARM's Home Office will be closed on Monday, September 7 in observance of Labor Day. We will re-open at 8:30 AM EST on Tuesday, September 8.
Rate Refresh in 32 States Effective September 1, 2020
Effective September 1, 2020, Mutual of Omaha is refreshing rates for the MutualCare Solutions portfolio in 32 states, including Alabama, Alaska, Arkansas, Colorado, Georgia, Idaho, Illinois, Iowa, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Nebraska, Nevada, New Hampshire, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming.
In these states, the Cash Benefit is being changed to 25% of the home health care benefit up to a maximum of $2,000/month, and spousal discounts are being reduced to 15% for cases in which both spouses are issued and 5% for cases in which one spouse is issued.
New paper and e-Applications will be required beginning September 1, 2020. Applications must be signed BEFORE September 1, 2020, and received by ARM by 3 PM EST on September 11, 2020 to be considered for the current rates.
Updated quoting software will be available for download on September 1, 2020. Marketing materials are in the process of being updated. Stay tuned for updates about downloading and ordering the new materials.
CLICK HERE for the official announcement
Restrictions Being Lifted for those Ages 65+ in Three Remaining States
Effective August 24, 2020, Mutual of Omaha resumed taking applications on those ages 65+ in California, Oregon, and Washington.
In these states, underwriting will review the application and medical records, and if the information is favorable, they will proceed with ordering the face-to-face.
For those ages 65+ who had an application incompleted when these guidelines were put into effect, a new application will be required and rates will be determined based on the client's current age. Medical records will only be ordered if they were not upon initial application.
Restrictions are now lifted in all 50 states. Click the link below to see an updated FAQ on the restriction lifting process, which includes a revised list of the states affected.
CLICK HERE to view the updated FAQ
Carrier Covid-19 Reminders
Premium Not Required for App Submission on Individual Business

Effective immediately, Transamerica no longer requires a premium deposit along with applications for individual business. Outstanding premium will be collected on delivery.

It is always encouraged to collect an initial premium deposit, and initial premium will still be accepted for those who wish to submit a partial or full modal payment upon application. For clients who wish to bind coverage, initial premium must still be paid when the application is submitted (2 month's of premium in every state except California, where no more than 1 month will be accepted).

This change is not exclusive to the Transcare III product. It is for ALL individual business - which includes states that still use Transcare II 2016 as the individual product.

Please note that this change only pertains to true individual business. For worksite groups that use direct billing as the payment method, premium will still be required for the application.

CLICK HERE to view the official announcement
"Dog Days of Summer" Sales Contest Ending Soon

National Guardian Life is holding a sales contest between 7/6/2020 and 8/31/2020. Each qualified application submitted between these dates will earn the writing agent a $100 Amazon gift card. Producers who write their first ever NGL EssentialLTC application will earn TWO $100 Amazon gift cards for that application, and then one $100 gift card for each subsequent application.

Applications must be received at the LTC Administrative Office within the contest period. Gift cards will be mailed weekly, and joint applications will count as one application. Click the link below for the official announcement.

CLICK HERE to view the official announcement
Premium Rate Action
In late September, John Hancock will begin policyholder notifications on the next round of John Hancock and Fortis policy in-force rate actions, which will have an effective date beginning with anniversaries on or after January 1, 2021. John Hancock policies issued in Michigan, New Mexico, Pennsylvania, and Wisconsin are affected. Fortis policies issued in Delaware, Kentucky, Louisiana, and Michigan are affected. Click the link below for more information. 

CLICK HERE for more information
New Lifetime Stable Premium Option for PCS II and Choice 1 Policyholders
Effective August 17, 2020, Genworth is introducing an additional coverage option for most PCS II and Choice 1 policyholders to consider when faced with a premium increase. This option provides a guarantee that the new premium associated with the Lifetime Stable Premium option will not increase for the life of the policy. Click the link below for more info.

CLICK HERE for more information
Premium Rate Action
Effective August 17, 2020, Genworth is implementing rate action on in-force business in Michigan. Effective August 24, 2020, it is implementing rate action on in-force business in South Carolina. Click the links below for more info.

CLICK HERE for more info about rate action in Michigan
CLICK HERE and HERE for more info about rate action in South Carolina

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