I hear things will be changing soon.
Sweeping Changes Are Coming with Genworth
- Thread starter ltcadviser
- Start date
Arthur Rudnick
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Very informative post Jack.
Keeping it a secret?
Keeping it a secret?
- Thread starter
- #3
Well, I figured I was the last to know. New policy filed; higher premiums; tighter underwriting; who knows what else.
Arthur Rudnick
Guru
- 1,652
previously posted by ltcadviser
We just got PCF2 in NY. I'm still trying to digest that change.
And of course, with PCF2, with parameds, tighter underwriting, limit to age 75, gender-based pricing, maximum of $300/day & 5 years, no more informal caregivers, 4 underwriting classes and claims offset (am I missing anything?) I thought the deal was that Genworth, after 40 years in the business, finally figured it out and got it right.
I see they're proposing to states to allow them to raise rates every year or so by a minimum amount (5%-10%) in order to avoid much larger rate increases down the road.
What was that thread about the other day on the guy who was marketing LTCi to 20-30 year olds? I think that's the direction that this market is pushing us towards.
We just got PCF2 in NY. I'm still trying to digest that change.
And of course, with PCF2, with parameds, tighter underwriting, limit to age 75, gender-based pricing, maximum of $300/day & 5 years, no more informal caregivers, 4 underwriting classes and claims offset (am I missing anything?) I thought the deal was that Genworth, after 40 years in the business, finally figured it out and got it right.
I see they're proposing to states to allow them to raise rates every year or so by a minimum amount (5%-10%) in order to avoid much larger rate increases down the road.
What was that thread about the other day on the guy who was marketing LTCi to 20-30 year olds? I think that's the direction that this market is pushing us towards.
- Thread starter
- #5
Lets not go that far.
Well, get ready for PC Flex 3 or Preferred Choice or whatever the new name will be.
Arthur Rudnick
Guru
- 1,652
previosly posted by ltcadviser
Do you know if it's been filed anywhere yet? NY is usually at least a year down the road from the first state approval.
Do you know if it's been filed anywhere yet? NY is usually at least a year down the road from the first state approval.
- Thread starter
- #7
I only know it is being rolled out next quarter or 3rd quarter.
Arthur Rudnick
Guru
- 1,652
I can hardly wait...............
- 2,584
If the underwriting gets harder, they really make things difficult.
I am getting some declines due to the paramed blood tests.
I don't even know what exactly they are testing for and what the levels must be?
Does anybody else know?
I had decline because of:
Elevated Liver Functions found in LAB.
Elevated Gamma-Glutamyl transpeptidase of 355 found in LAB.
Elevated Cholesterol/HDL Ratio 8.583
I was never told there was any liver issues.
After the decline, I asked her if she ever had consulted with the Dr. about her liver. She tells me about a year ago the liver functions were high and it was because of Cholesterol medication. So she stopped taking it.
Looks like her liver functions are still high and her cholesterol is high too.
Makes me wonder if this would have been a decline without the LAB by Genworth. I'd say possibly, since she didn't have her liver tested after stopping the cholesterol medication.
Any thoughts on this or the liver function test results?
I am getting some declines due to the paramed blood tests.
I don't even know what exactly they are testing for and what the levels must be?
Does anybody else know?
I had decline because of:
Elevated Liver Functions found in LAB.
Elevated Gamma-Glutamyl transpeptidase of 355 found in LAB.
Elevated Cholesterol/HDL Ratio 8.583
I was never told there was any liver issues.
After the decline, I asked her if she ever had consulted with the Dr. about her liver. She tells me about a year ago the liver functions were high and it was because of Cholesterol medication. So she stopped taking it.
Looks like her liver functions are still high and her cholesterol is high too.
Makes me wonder if this would have been a decline without the LAB by Genworth. I'd say possibly, since she didn't have her liver tested after stopping the cholesterol medication.
Any thoughts on this or the liver function test results?
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I've had two GNW declines because of "severely elevated liver function tests"...numbers basically off the chart..including GGT (that no one else tests for). Client was perfectly healthy......perfect labs with their doctor before and after the paramed exam. Only the paramed labs were bad. GNW got medical records from the doctor after we appealed, saying "that was impossible".....they looked at the records, reversed their decision and awarded them "preferred best".
So....you tell me where the off the chart paramed lab numbers came from. It freaked the client out when they thought they may be suddenly dying of liver disease....and it turned out to be bad labs or some freak occurrence. Glad we got it resolved, but is has me doing more with MOO as a result.
Also, to echo Jack's info....I was told the next GNW fire sale will likely be in May/June due to re-pricing the current PCF2 higher.,,starting of course in the ~34 compac states.
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