July 14, 2020 | Long-Term Care Newsletter
Updated Policy Comparison Report
 
The Connecticut Partnership for Long-Term Care has updated its policy comparison report to reflect the removal of Mass Mutual following their exit from the industry. Click the links below to view the updated report, as well as the most recent quarterly newsletter from the CTP.
 
CLICK HERE to view the policy comparison report
CLICK HERE to view the recent quarterly newsletter
Updated Cost of Care Materials
 
Mutual of Omaha has updated its Cost of Care resources to reflect more up-to-date figures. The Cost of Care Calculator allows you to look at current costs and project what they may become in future years. The Cost of Care Brochure provides a comprehensive overview of the cost of services broken down by state. The Cost of Care Flier helps explain misconceptions clients may have regarding what Medicare really covers, illustrating the surprising costs of LTC services. Click the links below to view these materials.
 
CLICK HERE to view the Cost of Care Calculator
CLICK HERE to view the Cost of Care Brochure
CLICK HERE to view the Cost of Care Flier
Rhode Island Making Efforts to improve Long-Term Care Amidst the Pandemic

The Covid-19 Pandemic has led many organizations, both public and private, to reflect on how long-term care services are currently administered, and how they could be administered more effectively and efficiently. Citing recent circumstances as the impetus, Rhode Island Governor Gina Raimondo recently unveiled a $25 million plan to address immediate needs at nursing home facilities and expand home-based care in the future.

With Nursing Homes and other facility-based programs being hit particularly hard by this crisis, there is definitely room for other states to match Rhode Island's commitment and address these issues while they are as front-of-mind as they may ever be.

Click the link below for more information on Rhode Island's recent investment.

CLICK HERE for more info
Carrier Covid-19 Reminders

CLICK HERE to see Transamerica's updated announcement regarding Grace Periods and policy mail outs

CLICK HERE to see National Guardian Life's announcement regarding clients ages 66-79

CLICK HERE to see Genworth's announcement about the extension of Grace Periods

CLICK HERE to see John Hancock's announcement about the extension of Grace Periods
EssentialLTC Now Available in California

National Guardian Life's EssentialLTC product launched in California on July 6, 2020 . Click the links below to view the official announcement, as well as an updated State Variation Chart. As a reminder, some of the unique features this standalone LTC product has to offer include:

  • Lifetime benefit period
  • 1035 Exchange eligible
  • Flexible premium payment options, including single pay and 10-pay options
  • Full or limited return or premium and cash surrender value options

CLICK HERE to view the official announcement
CLICK HERE to view the updated State Variation Chart
"Dog Days of Summer" Sales Contest

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
New and Improved Rate Calculator Available

National Guardian Life has updated its rate calculator. Click the link below for access. Updated features include:

  • One-page quick quote output
  • No login required
  • Optimization for smartphones and tablets

CLICK HERE to view the new Rate Calculator
Premium Rate Action
 
Effective July 6, 2020 , Genworth is implementing rate action on in-force business in Michigan , New Hampshire , and New Mexico . Effective July 13, 2020 , it implemented rate action on in-force business in Utah . Click the links below for more info.

CLICK HERE for more info about rate action in Michigan
CLICK HERE for more info about rate action in New Hampshire
CLICK HERE for more info about rate action in New Mexico
CLICK HERE for more info about rate action in Utah



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