As a current or retired federal employee, you have the opportunity to purchase Federal Long Term Care Insurance. But why would you choose this insurance plan over similar plans on the market? Convenience is one factor; you can make your premium payments directly via payroll or pension deductions. But the plan itself offers many benefits that you might find useful in a time of serious medical need.
You choose your care. Under the Federal Long Term Care Insurance (FLTCIP) program, you can choose whether to receive assisted living, traditional nursing home, or in-home care. The FLTCIP even pays for care given by friends, relatives, or other unlicensed providers.
Greater at-home benefits. The FLTCIP program provides the tools you need to successfully coordinate in-home care, such as necessary modifications to your home, an emergency medical response system, medical equipment, training for your caregivers, home safety checks, and care planning appointments.
Coverage is portable. As long as you pay your premiums and have not exhausted the maximum lifetime benefit, you keep your benefits. You can leave your government employment without surrendering the benefits you purchased.
Renewal is guaranteed. As long as you continue to pay your premiums, your coverage will be renewed. You won’t lose your benefits due to age or a change in your health status.
Premiums can be waived. If you need to claim your benefits, you will need to pass an initial waiting period. After that point you can stop paying premiums while collecting your benefits.
For more information on the Federal Long Term Care Insurance program, talk to your financial professional or your human resources department.
