Resources

Q: September 2022: CA, PA Payroll Tax Update

CA and PA Move Towards an LTC Payroll Tax There has been movement recently in California and Pennsylvania regarding legislation to adopt a Washington-style payroll tax to fund a minimum long term care benefit. You can find additional information on each proposal here: Long Term Care State Payroll Tax Update - BuddyIns

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Pro Webinar: LTCi Winning Solutions

Join BuddyIns CEO, Marc Glickman, as he takes a deep dive into long term care insurance. Marc will demonstrate how to create a compelling long term care insurance value narrative for clients. You will walk away from this session with a better understanding of how to structure your client conversations in a way that addresses top objections and highlights the true value of planning.

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Market Updates from Marc

September 2022: CA, PA Payroll Tax Update

CA and PA Move Towards an LTC Payroll Tax

There has been movement recently in California and Pennsylvania regarding legislation to adopt a Washington-style payroll tax to fund a minimum long term care benefit. You can find additional information on each proposal here: Long Term Care State Payroll Tax Update - BuddyIns

August 2022: Washington State Payroll Update

Washington State's legislation creating a payroll tax to fund a minimum long term care benefit continues to impact the industry:

In 2021, sales of stand-alone products tripled
Other states such as California, New York, and Minnesota have made moves to explore similar legislation
Carriers are taking state legislative action more seriously - this may result in new product development

Carriers continue to evolve their products as more consumers express interest in long term care and express a desire for additional benefits.

The stand-alone market is consolidating (6-10 carriers) and has been relatively stable
Asset-based LTCi options have improved recently with reduced pricing and a new product launch
Rising interest rates may be contributing to recent product stability
Alternative annuity-based and short term care products are growing in popularity to address health issues
The variety of life insurance accelerated benefits continue to grow

Featured

Comparing LTCi Plans for Clients

Sales Process, Webinars

How do you create a compelling value narrative for clients? Benefit Buddy is the pre-quoting sales tool that helps you guide the discussion with LTCi prospects in a way that is more personal to them. Use Benefit Buddy to compare LTCi vs. self-funding and engage clients in a meaningful discussion about cost vs. benefits. This […]

LTCi Winning Solutions

LTCi Market, Webinars

Join BuddyIns CEO, Marc Glickman, and Olympic gold and bronze medalist, Wendy Boglioli, as they take a deep dive into long term care insurance. Learn how to create a compelling long term care insurance value narrative for clients. You will walk away from this session with a better understanding of how to structure your client […]

Showcasing The Value of LTCi

Marketing Strategy, Product, Webinars

In this webinar, the panel discusses: An analysis of case studies that show the value using interactive plan design software How to approach the long term care needs analysis with clients Key talking points that will help you manage objections before they come up With only 7.5 million Americans owning some form of LTCi, […]

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