California Partnership for Long-Term Care Announces a New Partner.Business Editors/Health Writers SACRAMENTO, Calif.--(BUSINESS WIRE)--Sept. 20, 2001 Californians now have more options when choosing long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. insurance policies certified by the California Department of Health Services' California Partnership for Long-Term Care. State Health Director Diana M. Bonta, R.N., Dr.PH., announced today that John Hancock Life Insurance Company has been certified as the sixth private provider of Partnership policies. The others are Bankers Life and Casualty Bankers Life and Casualty is primarily a health insurance company in the United States. It was founded in 1879 and was previously known as White Cross. It was formerly owned by millionaire investor John D. , CNA (Certified NetWare Administrator) See Novell certification. Insurance, GE Financial Assurance, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Insurance and Transamerica Occidental Life Insurance. These providers have specially trained representatives to help serve their long-term care policyholders. Partnership-certified policies are the only policies sold in California that contain a lifetime asset protection feature. This feature protects a selected dollar amount should the insurance benefits run out, requiring the policyholder to use Medi-Cal, the state's health insurance for low-income residents. In addition, all Partnership-certified policies contain many consumer features, such as built-in inflation Built-in inflation is an economic concept referring to a type of inflation that resulted from past events and persists in the present. It thus might be called hangover inflation. protection to safeguard the policyholder from the inevitable increase in long-term care costs. John Hancock Financial Services, Inc. and its affiliated companies Affiliated Companies A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. , including John Hancock Life Insurance Company, provide a broad array of insurance and investment products and services to retail and institutional customers. As of June 30, 2001, John Hancock and its subsidiaries had total assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. of $122.7 billion. Consumers and insurance agents wanting more information on the John Hancock Partnership long-term care insurance product should call 1-800/377-7311. The Partnership works with a select number of private insurance companies to provide Californians with affordable, quality long-term care insurance protection. In addition, the California Public Employee's Retirement System's Long-Term Care Program offers its members CDHS' Partnership policies. For more information, call 1-800/CARE-445 or visit the Web site at www.dhs.ca.gov/cpltc. |
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