Important LTC Rate Refresh Transition Rule Best Practices from Mutual of Omaha
Recently, you may have received communication from Mutual of Omaha outlining the transition rules, implementation dates and benefit option changes to the MutualCare® Solutions Portfolio for the states of Kansas, Maryland, Massachusetts, Pennsylvania and Wisconsin.
We want to reinforce how important it is to take note of our transition rules as they were outlined:
- Old applications signed after October 31, 2020, will not be accepted.
- Old applications signed by October 31 but received by Mutual of Omaha after November 13, 2020, will not be accepted.
- In both scenarios, new applications are required, and new rates and benefit options will apply. No exceptions will be made.
Note: Please also make sure you are checking to ensure required agent licensing, CE and LTC certifications are in-place and current.
As a reminder, the following actions during the application process are deemed as unacceptable and will lead to a letter of education or corrective action being sent to the producer:
- Back dated applications
- Applications signed on behalf of another producer
- Resubmitting old applications with dates changed
- Agents taking applications prior to being licensed, completion of required CE or LTC certification
- Applications that have been altered
- Applications not competed and/or poorly completed
We are asking for your assistance with helping your producers and their customers. Please reinforce with your producers and staff how important it is to be aware of the transition rules/dates and what is acceptable and not acceptable during the application process.