Welcome to the second edition of Long-Term Care in the News. We, at Custom Care Solution, LLC., want you to be on the cutting edge of changes and updates within the Long-Term Care industry. We will accomplish this through these email bulletins distributed each week to our brokers, agents and their staffs.

Long-Term Care In the News ……..

TransAmerica has a super competitive Worksite program called TransCare Options for the Worksite for those of you doing business outside NY. Modified Guaranteed Issue, Simplified Issue and Abbreviated Issue are available depending upon the size of the employer group. If you are in the Group Benefits Market or have individual clients who are business owners, you need to call us today to learn more about this phenomenal opportunity.

Med America’s new flagship product, Care Directions Simplicity is available in New Jersey. This product is a “cash only” model – no reimbursement and though it is more expensive than its predecessor, it is competitive with other carriers reimbursement plans.

A long-term care partnership bill has been introduced in the House – HR 1406, sponsored by Representatives John Peterson (R-PA) and Earl Pomeroy (D-ND). It takes the very important step of allowing long-term care partnership programs to be offered on a favorable basis in all states. Its goal is to bring affordable access to private long-term care insurance to millions of Americans. Currently, only four states (CA, CT, NY and IN) offer viable long-term care partnership programs.

A recent article in the Wall Street Journal addresses Medicaid Maneuvers and why getting the government to pay for long-term care has more drawbacks than people think. Did you know, newer facilities try to limit the number of Medicaid patients they take; if your client has to leave the nursing home to be hospitalized, there’s no guarantee that they will get their bed back or even return to the same facility; that Home care or assisted living facilities may not be options; that transferring houses to children could hurt your client later; and states are also cracking down on Medicaid loopholes. Call us today to receive a complimentary copy of this reprint.

Little Known Facts ……..

One of the hottest markets for LTCi sales continues to be the business market… especially “Executive Carve-Out” plans… where 100% deductible corporate dollars pay LTCi premiums for selected executives.

A recent report from Long-Term Care Sales Strategies magazine, noted that 12% of the individuals who went on claim for long-term care services, did so less than two years after buying their LTC policy. Some 40%, started receiving their claim benefits between two and five years after purchasing their policy … and the remaining 48% happened after a five year time period.

The average cost for nursing home care rose 4.41% annually between 1990 and 2002. The Consumer Price Index averaged only a 2.01% yearly increase for the same time period.

CCS, LLC represents John Hancock, GE Capital, Mass Mutual, MedAmerica, MetLife, Physician’s Mutual, Prudential, State Life, Penn Treaty, TransAmerica and UNUM/Provident