Industry News

On June 17th, the Departments of Health and Human Services, Labor, and the Treasury (the Departments) issued the “grandfather” regulation which, by addressing how health plans can retain a “grandfathered” exemption from certain new requirements, helps protect Americans’ ability to keep their current plan if they like it. At the same time, Americans in grandfathered plans will receive many of the added benefits that the new law provides. The regulation also minimizes market disruption and helps put us on a path toward the competitive, patient-centered market of the future.

The Texas Department of Insurance (TDI) is excited to announce that it has signed contracts with Celtic Insurance Company and United Healthcare to be participating health plans for the Healthy Texas program. Once enrollment begins, interested employers will make application directly to one of these participating plans, or apply through an insurance agent.

John Hancock Life Insurance Company is telling distributors it plans to raise rates for in-force long term care insurance policies 40%. Hancock, Boston, also is suspending sales of group long term care insurance (LTC) policies as it undertakes a review of claims in that market, says Marianne Harrison, president of John Hancock Long Term Care, a division of Manulife Financial Corp., Toronto (NYSE:MFC).

I know that long-term care planning can be a difficult subject for people to discuss. But it doesn’t have to be. We know your clients are looking to their advisors for information about long-term care and this presents a tremendous opportunity for you.