Nationwide Announcing CareMatters II Price Improvement
As of August 21st, Nationwide implemented a price decrease for all scenarios of the current CareMatters II product effective in CT, FL, ND, SC, SD & DC. Additionally, the current minimum LTC benefit has been lowered on CareMatters II. Read on for the details!
From Nationwide:
Beginning August 21, 2023, Nationwide is implementing a price improvement across all scenarios for the current CareMatters II product effective in the states of Connecticut (CT), Florida (FL), North Dakota (ND), South Carolina (SC), South Dakota (SD) and the District of Columbia (DC).
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 is lowering the current minimum LTC benefit from $2,500 a month to $1,500 a month.
South Dakota, Vermont and Wisconsin require higher minimums.
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.
June 12th: 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 21st: CT, DC, FL, ND, SC, SD
Pending Approval: AZ, CA, DE, IN, NJ
Note that YourLife CareMatters in New York will not be affected by this change.
Current CareMatters II pricing and product minimum of $2,500 monthly LTC benefit will remain in effect until the Pending Approval states listed above approve the new pricing.
Nationwide will provide updates as they are able to implement these changes in additional states.