Recent Studies Show Americans Uninformed About Long Term Care Insurance
A recent study released by AP portrays a staggering lack of preparedness by Americans age 40 and up in the case of Long Term Care Insurance options.
The Rising Need for Long Term Care
Long Term Care is still one of the least popular insurance policies in the nation; only 1 in 10 seniors currently have Long Term Care Insurance. This statistic is shocking because, according to a government study for people 65 years and above, 1 in 2 Americans and 7 in 10 seniors will need Long Term Care at some point. ![long term[...]
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Newly Introduced House Bill Tightens Medicaid Eligibility for Long Term Care
A bill introduced last week in the U.S. House of Representatives seeks to tighten Medicaid eligibility for Long Term Care by allowing states to decrease the amount of home equity exemption to as low as $50,000.
H.R. 1702, or the “Medicaid Program Integrity Act of 2013”, also includes an attempt to eliminate the Maintenance of Effort rules. The Maintenance of Effort rules, which were established in the Affordable Care Act, have been preventing states from closing loopholes that allow Medicaid fraud in long term care services.
Bill Meant to Minimize Medicaid Abuse and Fraud
Both provisions of the bill are intended to reduce Medicaid[…]
Genworth to Stop Selling AARP Long Term Care Insurance Branded Products
Genworth announced today that they will cease new sales of AARP Long Term Care Insurance branded products.
This cessation comes nearly 6 years after the two companies joined together to provide innovative Long Term Care Insurance products specifically for AARP members. Existing Long Term Care coverage will not be affected by the change. 
Genworth (NYSE: GNW) is a Fortune 500 company that currently holds the ranking as the largest Long Term Care Insurance provider in the nation.
In 2007, Genworth joined with AARP to provide unique Long Term Care planning tools[…]
Long Term Care Changes for Transamerica in New York
A press release sent out this morning by Transamerica outlines the new changes and policies associated with the upcoming sale of TransCare II 2012 in New York.
Transamerica will make TransCare II 2012 available in New York effective May 9, 2013.
TransCare II, their previous Long Term Care insurance, will no longer be available in New York after May 8, 2013.
New York is the most recent state to acquire TransCare II 2012. California began selling TransCare II 2012 on March 22, 2013.
Several changes will go into effect and are applicable only to businesses in New York. New business rates will increase 5%. These new[…]
Shock, Genworth Long Term Care Insurance is Pulling out of California
LTC Tree just heard through sources that Genworth will cease writing California Long Term Care Insurance business 3/21/2013. This action is due to the fact that Genworth still has their old California Long Term Care Insurance product active in the state. The product that will be taken away in California Long Term Care Insurance market, is the Genworth LTC Choice and California Long Term Care Insurance Partnership version. Those plans still have the old rates from at least four years ago, with no potential in sight for approval on the new products and pricing.
Obviously, when a company cannot control it’s own pricing,[…]
Huffington Post Long Term Care goes Wild on Genworth
After reading a Huffington Post Long Term Care article entitled: Genworth Financial Exploits Obamacare Loophole To Charge Women More For Insurance, we had to respond to the irrational logic the journalist who wrote the piece expressed. The position of fairness she took just does not hold water with multiple other insurance products where men pay much higher rates… say Life Insurance or Auto Insurance!
Huffington Post Long Term Care Slams Genworth with Hyperbole
Here’s a bit from the Huffington Post Long Term Care article on Genworth:
Many women soon can thank Obamacare for ensuring that they won’t have to pay higher health insurance[…]
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