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April 2019 LTC Newsletter

April 26, 2019

LTC in the News

The word is spreading. Major news outlets are letting the American people know the importance of long-term care planning. Are you? Here are a few recent third party articles.

Top News

Topics of Interest in Today’s Marketplace

Whether you were able to attend or not, we thought we would share some topics of interest at this year’s 19th Annual Intercompany Long-Term Care Insurance Conference.

  • Medicare Advantage Expansion into Personal & LTSS
  • Demo - My Million Dollar Mom
  • Become an LTCI Super Hero: Integrating Asset-Based into Traditional LTCI
  • State Initiatives for LTC Financing Reform
  • What’s up Doc? Geriatric Neurology and the Implications for LTC Insurance
  • Evidence-Based Nutrition for Healthier Futures
  • Political Pundits Pontificate: The Political/Policy Environment in 2019

View more and explore event

Washington Set to Be First State to Offer Public LTC Insurance

Washington looks poised to become the first state to provide publicly funded long-term care insurance. If passed, the initiative would be funded thru an employee wage tax starting in 2022 and provide as much as $36,500 in long-term care benefits starting in 2025.

This won’t negate the need for LTC coverage as it requires the trigger of 3 ADLs (LTC insurance of all types requires just 2 ADL deficiencies, or severe cognitive impairment) and provides somewhat minimal coverage given that the current average cost of care services in Washington is over $5,000 per month for home and assisted living care, and almost $9,000 per month for nursing facility coverage. However, it could certainly help for younger workers’ future needs. Read more

This Increasing Client Risk Will Change Advisor Practices. Here's Why

When asked what's the biggest impact on their practice, advisors didn't point to artificial intelligence, robos or even climate change. Instead, they're fixated on longevity risk.

Clients' ever-increasing lifespans are challenging assumptions about spending rates, savings and more, say advisors, who singled out longevity in a survey released last month by Schwab Advisor Services. Read more

3 Creative Ways That Annuities Can Fund LTC Insurance

According to insurance industry research group LIMRA annuity sales had their best quarter in nearly 10 years with 62.1 billion in 4th quarter 2018 sales, up 22% year over year.

Annuities are best known for helping with retirement income, but they can also play a role in planning for long-term care by using some creative strategies and tax advantages. Read more

About One-Fourth of Private Long-Term Care Insurance Claims Begin and End in Assisted Living

Almost one-fourth (24.5%) of private long-term care insurance claims began in assisted living in 2018, and two percent more (26.5%) ended there, according to new data from the Los Angeles-based American Association for Long-Term Care Insurance. Read more


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