Business Underwriters Associates, LLC

Nationwide: CareMatters II Price Improvement in CA - Effective 4/1/24

03-28-2024

Beginning April 1, 2024, Nationwide® is implementing a price improvement across all scenarios for the current CareMatters® II product effective in the state of California (CA).

CareMatters II price improvements and product minimum decrease

There will be a price decrease for all scenarios, which varies by the characteristics of the case.

In addition, to make CareMatters II more accessible to more clients, Nationwide has lowered the minimum LTC benefit from $2,500 a month to $1,500 a month. The minimum is $1,550 in California. South Dakota, Vermont and Wisconsin also require higher minimums. CareMatters is designed to return the most value back to its members

Here are some of the ways in which CareMatters II stands apart from the competition:

  • Cash indemnity benefits mean that the full monthly LTC benefit is available every month
  • Upon completion of the 90-calendar-day elimination period, the LTC benefits for the first 90 days will be paid retroactively along with benefits for month 4
  • The death benefit will never be less than the premiums paid, minus any policy distributions (loans, withdrawals and LTC benefits paid)
  • And even if all the LTC benefits have been used, a guaranteed 20% residual death benefit is paid to the policy’s beneficiaries; this is currently the highest in the industry Important dates CareMatters II policies with an effective date on or after the price improvement effective date shown in the table below will receive the improved pricing.
Effective date States
June 12, 2023 AK, AL, AR, CO, GA, HI, IA, ID, IL, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NE, NH, NM, NV, OH, OK, OR, PA, RI, TN, TX, UT, VA, VT, WA, WI, WV, WY
August 21, 2023 CT, DC, FL, ND, SC, SD
October 9, 2023 AZ, DE
December 18, 2023 IN, NJ
April 1, 2024 CA

Important dates

CareMatters II policies with an effective date on or after the price improvement effective date shown in the table below will receive the improved pricing.

CareMatters policies do not allow for backdating. YourLife CareMatters® in New York will not be affected by this change.