The LTC field underwriting guide has been newly updated as previously announced at the April 2019 Underwriting Operation teleconference. TENS units are now accepted and clients with TENS units currently in use will be rated based on their specific health condition.
Effective December 1, 2019, Mutual of Omaha will be implementing rate action on in-force business in Arkansas, Iowa, New Mexico, Ohio, Oklahoma, and Pennsylvania. Policyholders will receive a letter notifying them at least 90 days prior to the premium rate increase. Click the link below for more information.
CLICK HERE for more info on the December rate adjustments
CTP 2020 Minimum Daily Benefit Levels
The minimum daily benefit levels for Partnership policies applied for in 2020 will be $292.00 for nursing home care and $146.00 for home care. The 2020 minimum levels represent a 3.0% increase from 2019.
The annual allowable minimums also pertain to existing policyholders who wish to reduce their daily benefit, depending on carrier availability.
CLICK HERE for more info regarding the 2020 minimum daily benefit levels
New Hampshire Revising DRA Standards
The State of New Hampshire recently acknowledged that their DRA National Partnership criteria was not in compliance with the federal DRA Partnership standards and will be revising their criteria to meet federal standards. Upon the completion of the revision, it will be confirmed that all states in Compact comply with the federal standards for compact.
CLICK HEREfor info about Transamerica's 2020 Agent Convention
CLICK HERE for info about LifeSecure's LTC incentive program
"AHIP's four solutions to reform LTC"
America's Health Insurance Plans (AHIP) has proposed four courses of action that could impact long-term care reform. First, AHIP recommended a national awareness campaign to educate Americans of their potential need for LTC services in the future and allow them to plan ahead. Second, AHIP proposed several tax incentive options designed to mitigate the financial burden. Third, AHIP suggested allowing members to use LTCi to also cover preventive measures that occur before long-term care is needed. Lastly, AHIP recommended updating the thinking about inflation protection on LTCi to reflect today's realities.
Effective September 23, 2019, Genworth implemented rate action on in-force business in Virginia for the Pre-PCS™ product series. Click the link below for more information.
CLICK HERE for more info on rate action in Virginia
Effective September 23, 2019, Genworth implemented rate action on in-force business in Wisconsin and New Jersey (Alabama Group Trust policies only) for the Privileged Choice™ and Classic Select™ product series. Click the link below for more information.
CLICK HERE for more info on rate action in Wisconsin
CLICK HERE for more info on rate action in New Jersey (Alabama Group Trust policies only)