Genworth Financial has announced that the minimum Partnership program benefits in four states (California, Connecticut, Indiana, and New York) will be changing for 2023. The changes go into effect on Jan. 1, 2023.
Genworth Announces In-Force Rate Increases in Pennsylvania
Genworth Financial has announced in-force rate increases in Pennsylvania for its Privileged Choice® Flex long-term care insurance products, effective Dec. 19, 2022. Policyholders will begin being notified of these changes starting Dec. 27, 2022.
LTCI In-Force Rate Adjustments Announced for Several States
Mutual of Omaha has announced in-force rate adjustments for certain LTCI policies in the District of Columbia, Kansas, Montana, Ohio, and Virginia. The changes will go into effect on Mar. 1, 2023, with the exception of Virginia, which will go into effect on Apr. 1, 2023.
Reminder about Form 1099-NEC
Genworth Financial would like to share a reminder that Form 1099-NEC will be filed for anyone who is paid at least $600 in commissions in 2022; this includes all product lines. For producers not receiving electronic versions, forms will be mailed directly to resident addresses no later than Jan. 31, 2023.
Genworth Announces In-Force Rate Increases in North Carolina
Genworth Financial has announced in-force rate increases in North Carolina for its Pre-PCS, PCS I, Privileged Choice®, and Classic Select long-term care insurance products, effective Dec. 12, 2022. Policyholders will begin being notified of these changes starting Dec. 20, 2022.
Digital Marketing Library Streamlined
The Digital Marketing Library experience on Genworth Pro will be streamlined starting on Dec. 6, 2022. The library houses forms and materials used to service Genworth’s policies. The look and feel will be very similar to the current platform.
Security Updates from Genworth Financial
Genworth Financial would like to remind agents about securing their usernames and passwords through these rules. Reminders on Genworth’s Data Security and Cybersecurity Program have also been announced. These notices are effective immediately.
ELCO Mutual Announces MCA Changes
Effective Jan. 1, 2023, ELCO Mutual Life & Annuity will be implementing adjustments to the Medicaid Compliant Annuity (MCA) product line. Payout rates will be changing, certain commissions will receive an increase, and the Cash Refund option will no longer be available. The last day to submit new business in 2022 will be Dec. 23.
Genworth Announces In-Force Rate Increases in Georgia
Genworth Financial has announced in-force rate increases in Georgia for its Privileged Choice® Flex long-term care insurance products, effective Nov. 21, 2022. Policyholders will begin being notified of these changes starting Nov. 29, 2022.
Genworth Announces In-Force Rate Increases in Washington, D.C.
Genworth Financial has announced in-force rate increases in Washington, D.C., for its AARP Group long-term care insurance product series, effective Nov. 21, 2022. This premium rate increase also impacts certificates in 29 states. Policyholders will begin being notified of these changes starting Nov. 29, 2022.
