This week, we have an update on individual life insurance premium growth in the first half of 2017, a summary on the CHRONIC Act passing in the Senate, and survey results stating the majority of Americans believe LTC will be covered by health insurance or Medicare.
LIMRA: U.S. Individual Life Insurance New Premium Increases in First Half of 2017 | LIMRA | September 26, 2017
U.S. Individual life insurance new annualized premium increased 4 percent for the first half of 2017, compared with the first six months of 2016. In the second quarter, new annualized premium increased 3 percent, according to the LIMRA U.S. Retail Individual Life Insurance Sales Survey.
See the full update from LIMRA.com here.
CHRONIC Act, which expands Medicare coverage for telemedicine, passes in Senate | mobihealthnews | September 27, 2017
Senate Bill 870, the Creating High-Quality Results and Outcomes Necessary to Improve Chronic Care Act of 2017, or CHRONIC Act for short, has passed in the Senate by a unanimous vote. Among other things, the bill, which was originally introduced in April by Senator Orrin Hatch (R – Utah), includes provisions that would expand Medicare coverage for telemedicine.
Read the full article on mobihealthnews.com here.
Survey: Majority of Americans believe health insurance or Medicare will pay for long-term care | PRNewswire | September 28, 2017
More than half of Americans – 55 percent – mistakenly believe health insurance or Medicare will pay for assistance with daily living due to illness or injury for an extended period of time.
A recent survey conducted online by Harris Poll on behalf of OneAmerica®asked adults how they would pay for assistance with daily living due to illness or injury, either in-home or in a care facility, for an extended period of time (i.e., longer than 90 days). More than half (55%) said they’d use Medicare or health insurance, even though in most cases, neither will pay for long-term assistance with daily activities.