Please be aware that John Hancock is implementing changes to their LTC product portfolio in response to the economic environment and claim trends.

Some of the major updates are as follows: 

• NY Partnership plans TEMPORARILY SUSPENDED (effective 6/21/10)*
• Focus on the Custom Care II Enhanced product, and withdrawal of Leading Edge product in all states (except FL).  Leading Edge will remain for Corporate Solutions.  
• Price adjustments on NEW sales only in approved states effective June 7th for Custom Care II (NY is NOT on the list of 19 states presently approving rate increases)
  •  Adjustments will vary by age, inflation option and benefit period.  The increase in Compound inflation pricing is  approx 32%!, while CPI inflation is increased approx 5%. 
  •  Preferred discounts will be reduced from 15% to 10%. 
• Elimination of the Lifetime benefit option in all states effective June 7th.  
   
• NOTE: Any JH NY Partnership applications need to be signed on or before June 20th, and submitted to our office by June 28th.  John Hancock remains a participating insurer with NYS Partnership and is working with NYS to get new pricing approved and resume sales as soon as possible.