Mike Baker takes questions from hims 3/15 Hybrid LTC - Exchange Opportunities webinar!
Q&A from the 1035 Exchange webinar:
Q: Are Part B premiums based on last years income, or on income from two years prior?
A: Part B premiums are based on income from two years prior.
Q: This could make a good seminar for retirement or active adult communities. Do you have a simple consumer
A: We do not currently have a client version available but agree that a streamlined version would be a good
resource. We will work on the development of a client based presentation.
Q: What is the waiting period of the LTCi when the need is trigger?
A: The waiting period can vary between carriers. Generally, it is 90 days with some carriers offering a 0 day for
home health care.
Q: Is there a LTC test required, do you need the LTC CE training?
A: Not necessarily. It depends on the product. Please note there may be Anti Money Laundering training required
and the Annuity companies may require Annuity training to be completed.
Q: Clients may be leery o the exchange unless they clearly understand the LTCi benefits.
A: Agreed, our job is the help educate you so that you can comfortably and confidently have that discussion with your clients. We are also available to conference call, as a trusted resource, with you and your client.
Q: What is Mike Baker’s extension?
A: Mike can be reach at 800-769-1847 x 262 or at firstname.lastname@example.org
Q: What are the options regarding facility care vs. home care. Also, are cash benefits available in these policies?
A: The policies are comprehensive, providing benefits for both facility and home health care. And, yes, there are policies that will provide and indemnity/cash benefit if care is needed.
I would encourage you to ask additional questions and/or provide comments that may benefit anyone visiting this post. We appreciate your participation in this forum.