…Lazarus styles himself as a business reporter, but his article on LTCi rate increases is short on facts and long on his bias towards government-run anything. He starts his “editorial” by criticizing proponents of free-market solutions and closes with the “probing” question/comment “Could the government have done a better job …. it couldn’t have done worse”. Mr. Lazarus, have you looked at the Affordable Care Act lately?
Category Archives: News and Current Events
….what’s the latest puzzle that I get to solve for you? Which long-term care planning solution is best suited to a specific prospect’s needs?
….One of the highlights of our Thought Leaders Symposium will be the interactive nature of the event. Formal presentations by our speakers will only be about 25 percent of time spent. The balance will be Q & A between the speakers, panel moderators, and you. As I design my questions for our presenters, what are some issues that I have in mind?
….We invite you to meet some of the most influential long-term care insurance industry leaders on January 30 at our 2014 LTCi Thought Leaders Symposium. Here are the Top 10 reasons you need to register today.
…..Flying in the face of conventional wisdom is a personal trait I’m quite proud of. So when I suggest that the best days of long-term care planning are ahead of us, I’m not just whistling past the graveyard.
…..Many business owners renewed their group health plans early this year to mitigate the negative impacts of ACA. Now what are they thinking about? TAX PLANNING! That’s right! Now we need to think about taking advantage of every legal tax break at our disposal. I do have some good news in this regard. Traditional long-term care insurance IS the last great deduction for business owners.
……here’s the point: rate increases or not the solution is not to throw up our hands and refuse to sell UL or LTCi any longer. People rely on us to help them mitigate the serious risks they face. Consumers understand what the low interest rate environment has done to their savings and investments. Explain it in those terms and, if necessary, adjust their coverage to coincide with the new reality.
…..Maybe the only good thing about the now-dead Class Act is that an outcome of its repeal was the creation of the Federal Commission on Long-Term Care. Generally, no one pays much attention to these reports and the recommendations they make. Anyone remember the 2010 National Commission on Fiscal Responsibility (Simpson-Bowles)?
…NOW, in California, Texas and most other states you can utilize LifeSecure’s online application process. This means you can sell high quality LTCi over the phone, complete the application online and never touch a piece of paper.
……Gender specific pricing is a change, not the end of the world. Some will pay more others may pay less. The real opportunity is in those states that have not experienced this and other recent pricing adjustments. California, Connecticut, Florida, Hawaii, Indiana, New York and the District of Columbia have not yet instituted gender specific premiums. If you have single female clients in these states now is the time to get them the pricing advantage of unisex rates.