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Old 07-28-2011, 07:59 PM   #1
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Ok...who knows what so far about the new Humana LTC offering being piloted in 6 states? I have seen announcements, but no details.

It claims to be a cash plan, maybe at least for HHC like FlexCare with FlexCash?

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Herman Bruns
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Old 07-28-2011, 08:42 PM   #2
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Humana LTC Offering Re: Humana LTC Offering
"Humana tests new long-term care policy"

Humana Inc. has begun piloting a new long-term care insurance offering, according to a news release.The HumanaOne Independent Care plan differs from other traditional coverage by offering policyholders monthly cash payments, which they can use to pay for care from any source they choose, the release said.

Funds can be used for their individual needs, such as an aging-assistance concierge, groceries and pet care or reimbursing a neighbor who helps with daily tasks.

“Humana is committed to answering the demand from today’s baby boomer population looking for independent and peace of mind as they face their health care future,” Fred Wheeler Jr., HumanaOne vice president of sales, said in the release. “With this offering, we’ll be able to offer policyholders the autonomy to make their own choices and the funds they need to achieve the well-being they desire.”

The plan is being launched in six states: Kentucky, Ohio, Michigan, North Carolina, South Carolina and Tennessee. Policyholders must receive certification of their chronic condition from a licensed health care provider.

Humana officials estimate that 70 percent of Americans will need help with care, either at home or in a facility, after age 65.


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Arthur Rudnick, LTCP, CLTC
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Old 07-28-2011, 09:39 PM   #3
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I know....thats all I find too. So what are they offering?
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Old 07-28-2011, 10:34 PM   #4
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Humana LTC Offering Re: Humana LTC Offering
They could be about to learn that long term care insurance is not something you jump into and guess your way to profitability. But who knows, maybe we need a new player. There's been plenty leaving the playing field in the past 10 years, but few coming aboard. Kind of shocking that they would jump in, IMO.
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Old 07-29-2011, 10:40 AM   #5
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Humana LTC Offering Re: Humana LTC Offering
'I know....thats all I find too. So what are they offering?"

Herman,
The answer is obvious in this statement:

"Funds can be used for their individual needs, such as an aging-assistance concierge, groceries and pet care or reimbursing a neighbor who helps with daily tasks."

Here's what makes this policy so unique:
Not only is the policyholder covered, but the policholder's pet is covered as well.

I find that to be a very innovative long term care policy and it should do very well.

Just my opinion.............


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Arthur Rudnick, LTCP, CLTC
AR4LTC@aol.com
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Old 07-29-2011, 10:42 AM   #6
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Humana LTC Offering Re: Humana LTC Offering yankee466 is the thread starter for: Humana LTC Offering

As long as it does not cut into our pet insurance business, then I am all for it.
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Old 07-29-2011, 11:26 AM   #7
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Humana LTC Offering Re: Humana LTC Offering
Good point and that could be a problem.............

Why would someone buy a stand-alone pet insurance policy when the could purchase a hybrid policy that covers both the human policyholder AND their pet?

This sound like a conversation on a life & ltc combo product and MoneyGuard.

It could very well hurt the pet insurance industry.........

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Arthur Rudnick, LTCP, CLTC
AR4LTC@aol.com
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Old 07-29-2011, 01:17 PM   #8
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My poodle will be disappointed, as he is my referral source.
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Old 07-29-2011, 02:21 PM   #9
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I feel your pain................

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Arthur Rudnick, LTCP, CLTC
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Old 07-29-2011, 02:44 PM   #10
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PoodleGaurd
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