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HealthPlan Services Adding LTC Distribution

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NU Online News Service, Oct. 15, 1:55 p.m. – HealthPlan Services Inc., Tampa, a third-party benefits administrator, says it wants to build a major long-term care insurance distribution operation.

HealthPlan, best known for administering benefits for self-insured employee health plans, has agreed to distribute LTC insurance for five carriers.

The carriers are GE Financial Assurance, Richmond, Va.; John Hancock Financial Services Inc, Boston; Lincoln Benefit Life Company, Lincoln, Neb.; MedAmerica Insurance Company, Rochester, N.Y.; and UnumProvident Corp., Portland, Maine.

The company set up a senior markets division in August that will handle LTC policy sales and enrollment support.

HealthPlan says it hopes to distribute LTC insurance through its existing agent network and several new agent networks.