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Long Term Care Underwriting Steve Ramczyk Underwriting Executive. LTCI Partners July 25, 2008. Contents. Strength of John Hancock Underwriting Underwriting Field Support Tools LTC Risk Analysis Setting Expectations Our commitment Q & A. Strength of John Hancock Underwriting.
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Long Term Care UnderwritingSteve Ramczyk Underwriting Executive LTCI Partners July 25, 2008
Contents • Strength of John Hancock Underwriting • Underwriting Field Support Tools • LTC Risk Analysis • Setting Expectations • Our commitment • Q & A
Strength of John Hancock Underwriting • Seasoned, exclusively dedicated underwriting staff • Management 20+ years of experience • Underwriters 13+ years of experience • 4 risk classifications available allowing JH to offer coverage to most individuals • Preferred and Select/Standard • Substandard Class I & II (25% & 50% increase in base rates) • State-of-the-art risk analysis tools • Telephonic Assessments (TIP) • Personal Interview (F2F) • MCAS, 2nd generation cognitive screen, 98% accurate, administered telephonically or F2F • Prescription Profiles • MiB Specific - LTC codes now available • Competitive underwriting guidelines • Annual Best Practices review
Underwriting Field Support Tools • Field Underwriting Guide (form no. LTC-1727) • Preferred Self Screening Questionnaire (LTC-2976) • Underwriting Process Brochure (LTC-1590) • “Ask an Underwriter” Calling Card (LTC-2770A) • Cognitive Screening Video • Cognitive Screening Flier (LTC-2971)
LTC Risk Analysis 4 Key Factors in Risk Evaluation • Independent in ADL’s & IADL’s • Cognitively Intact • Stable, Well-Controlled, Non-progressive Medical Conditions • Absence of multiple co-morbid conditions (3+) 3 Major Reasons for Denial • Recovery Period Not Satisfied • Multiple Co-Morbid Medical Conditions (3+) • Uncontrolled/Progressive Disease Process
Setting Client Expectations • Be sure to encourage use of the UW Process Brochure (Form no. 1590) • Interview must be taken seriously, if not a good time, it is “ok” to reschedule • All Applicants ages 65-84 will have the Acuity Screening (MCAS) • We do not re-test for a failed MCAS • All Interviews, telephonic and F2F, are completed by RN’s • There is only one scripted interview, they are not customized based on younger ages, or higher function levels
Our Commitment • Respond to inquiries within 3 business hours • Respond to pre-qualification inquiries live or within 24 hours if prequalification form submitted • Provide an underwriting determination within 3 days of receipt of medical information • Maintain superior vendor relationships