West Virginia 4 Hour Long-Term Care Ongoing CE

This four-hour course applies to producers who need to complete their Long-Term Care (LTC) refresher course in order to maintain their ability to sell Long-Term Care insurance.  This updated course will cover key principles and concepts related to long-term care insurance coverage and will discuss a number of important issues surrounding long-term care, including an introduction to the history and concepts related to LTC, what long-term care insurance is and its associated uses, levels of care, eligibility for coverage, settings for care, the Activities of Daily Living, alternatives including Medicaid and life insurance riders, and important sections of the National Association of Insurance Commissioners (NAIC) Model Long-Term Care Act and changes.  

The course continues with a deep look at long-term care policies, including the basics of LTC and in-depth material. Elimination periods, general underwriting, benefit periods, tax issues and tax-qualified contracts, partnership policies and associated rules, agent and insurer responsibilities, replacement concerns, and optional benefits and riders are thoroughly explored. The last sections of the course detail the National Association of Insurance Commissioners Long-Term Care Model Act and its requirements.  

The course contains numerous illustrations and graphics to assist comprehension, as well as simplifications of difficult laws and rules. 

The course concludes with a final exam that must be successfully passed with a score of at least 70% in order to receive certification for the course. 

Specifically, the course explores: 

• The history of long-term care and recent developments; 
• Statistics related to how care is provided, costs, and more related materials; 
• The Program of All-Inclusive Care for the Elderly, or PACE; 
• The Activities of Daily Living (ADLs), cognitive impairment issues, settings for care including potential costs, corresponding facilities including private versus semi-private care, dementia facilities, adult family homes, nursing homes, and regional differences in the mix of care; 
• Long-term care policies and related terms and definitions associated with LTC; 
• Partnership policies and how Medicaid plays its role; 
• Who pays for long-term care; 
• Underwriting the policy, including personal and family health history, gender, age and current health status, who should and who should not buy long-term care insurance, the extension of benefits provision is detailed, as well as benefit periods and amounts of coverage; 
• The agent’s responsibilities in transacting LTC, suitability concerns and mandates, protections against unintentional lapse of the policy, exclusions found in LTC policies, a deep discussion on replacement concers, and marketing and advertising information; 
• How Medicare looks at long-term care;  
• Tax concerns associated with tax-qualified long-term care (TQLTC) and non-qualified policies, general provisions, nonforfeiture concerns, long-term care partnership programs and their associated requirements, private long-term care, and inflation protection options and issues; 
• Optional benefits are analyzed, including riders and optional provisions, such as guarantee of insurability, waiver of premium, inflation protections, cost of living adjustments, spousal and survivorship benefit riders, and hybrid, or linked-benefit contracts; 
• Partnership policies and their role in the states and with Medicaid; 
• The National Association of Insurance Commissioners (NAIC) Model Act and the legal requirements mandated by the states and federal government, and other important legal concerns; and 
• Much, much more.  

West Virginia Offices of the Insurance Commissioner ID: 112656