Genworth Rate Hike Shakes Up Long-Term Care Insurance Landscape

Long-Term Care Insurance

Genworth Life Insurance dropped a bombshell when it proposed a jaw-dropping 233% rate hike for its long-term care insurance policies. That’s right, 233%. In Maine, regulators pulled the brakes—chopping that monster hike down to 76%. But let’s get real: a jump like that still hurts. And if you’re thinking this is just a Maine thing, think again. Genworth’s campaign for higher premiums is nationwide—with hundreds of hikes already stamped “approved.” Between 2021 and 2023, Genworth scored the green light for 429 rate increase requests across the country. The average increase…

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Washington’s 1st of it’s Kind Long Term Care Program Nears Launch

long term care

Washington State is making history. Its groundbreaking long term care insurance program, WA Cares, is set to roll out on July 1, 2026. This isn’t just another government initiative—it’s the first program of its kind in the U.S. And it’s a big deal. Why? Because long-term care is expensive. Really expensive. And most people don’t have a plan for it. WA Cares aims to change that by giving workers a way to save for care as they age. How It Works Here’s the deal: WA Cares is funded by a 0.58% payroll…

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Top States to Age in Place and Do You Still Need Long Term Care Insurance

Top states to age in Place

How Long-Term Care Insurance Fits Into Aging in Place Aging in place. It’s more than a trend. For millions of Americans, it’s a lifestyle choice with big implications for their finances and their families. This year, a record 4.2 million Americans will turn 65, and according to an Seniorly.com, 75% of older adults want to age in their own homes instead of moving to an assisted living facility. But here’s the big question. If you’re staying put, do you still need long-term care insurance (LTCI)? The answer? A resounding yes.…

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WA Cares Survives: A Victory for Public Long-Term Care Insurance in the US

Long-Term Care Insurance in the US

Washington State Upholds Innovative Long-Term Care Insurance Program In a decisive move, voters in Washington State have chosen to uphold the state’s pioneering long-term care insurance program, WA Cares. This decision comes after the rejection of Measure 2124, a ballot initiative aimed at dismantling the program. WA Cares stands as the first of its kind in the United States, offering residents up to $36,500 in long-term care benefits, with adjustments for inflation. The program is funded through a payroll tax surcharge of 0.58 percent, impacting all workers in the state.…

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Exploring Assisted Living Amenities: What to Expect

research in finding assisted living amenties and facilities

Introduction: The Importance of Amenities in Assisted Living Choosing an assisted living facility is about more than just finding a place for a loved one to live; it’s about selecting a community that provides comfort, care, and quality of life. A key factor in this decision is the range of amenities offered by the facility. These amenities play a crucial role in ensuring that residents feel at home, remain active, and enjoy a fulfilling lifestyle. In this article, we’ll explore the diverse amenities typically offered in assisted living communities and…

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Long-term care insurance is helping people remain in their homes longer

Long-term care insurance Coverage - Caretaker visiting Person at Home

This coverage is being included in retirement plans for people who want to avoid care facilities. It isn’t uncommon for people to want to remain in their homes for as long as possible as they age, and long-term care insurance as a part of a retirement strategy is starting to grow in popularity once more. The growth is slow, as the coverage is not cheap, but as people plan for the future, they see its value. Assisted living communities and nursing homes are also not cheap, so as many people…

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