February 2, 2021 | Long-Term Care Newsletter
ARM Home Office President's Day Hours
 
ARM's Home Office will be closed on Monday, February 15, 2021 for President's Day. We will re-open at 8:30 AM EST on Tuesday, February 16, 2021
New HSA Flier with 2021 Limits

With the IRS updating its maximum reimbursement limits for HSA funds used to pay for LTCi premiums, LifeSecure has released a flier summarizing this helpful information. Click the link below to download the flier.

CLICK HERE to download the HSA Flier
Transamerica Officially Communicates Details Regarding Standalone LTCi Exit
 
Transamerica released an official announcement regarding the discontinuation of it's standalone LTCi product in 2021.
 
Transamerica also distributed a FAQ document which includes details about the transition. Click the links at the bottom of this alert to view Transamerica's announcement and FAQ.
 
Please note that policyholders, multi-life employer contacts, and writing agents of multi-life groups will receive direct communication from Transamerica regarding the transition.
 
A reminder about dates:
 
  • All individual applications must be signed and received by Transamerica no later than Wednesday, March 31, 2021

  • For new Multi-Life cases, all Service Group Request forms must submitted to Transamerica Transamerica no later than Wednesday, March 31, 2021

  • Multi-Life and approved Association applications must be signed and submitted no later than Wednesday, June 30, 2021
 
CLICK HERE for the official announcement from Transamerica
CLICK HERE for the FAQ document 
Carrier Covid-19 Reminders
Premium Rate Action
 
Effective January 25, 2021, Genworth implemented rate action on in-force business in Alabama, Missouri, and Montana. Effective February 1, 2021, rate action was implemented in Texas. Effective February 1, 2021, Genworth also implemented rate action on Alabama group policies, including those issued with certificates in Massachusetts and New Jersey. Click the links below for more info.

CLICK HERE and HERE for more info about rate action in Alabama
CLICK HERE and HERE for more info about rate action in Missouri
CLICK HERE for more info about rate action in Montana
CLICK HERE and HERE for more info about rate action in Texas
CLICK HERE and HERE for more info about rate action on Alabama Group Policies



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