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Program Offers Long-Term Health
Insurance
WASHINGTON (Army News Service, Sept. 25, 2002)
Service members and federal employees who might need lengthy or even
lifelong assistance with daily living due to illness, injury or severe cognitive
impairment now have insurance to help pay for it.
Congress authorized the Federal Long-Term Care Insurance Program in the Fiscal Year 2001
National Defense Authorization Act. Coverage begins for those who sign up in October.
As the program's executive agent, the Office of Personnel Management launched the
insurance plan in March for federal employees, as well members of the uniformed services.
Eligible individuals can enroll through Dec. 31.
Those eligible include active-duty members, retirees, reservists, federal civilian
employees, their spouses, parents, step-parents, parents-in-law, and adult children.
The insurance is offered by John Hancock and MetLife and is administered by Long Term Care
Partners, a joint venture between the two companies.
"I think it may be a very good deal," said Ann Pratcher, program manager at the
Community Service Financial Readiness Program in Fort Benning, Ga. "I think (people)
need to seriously consider a long-term care plan as part of their total financial plan for
their life," she said.
Pratcher added people should remember that Medicare and Tricare only cover limited
amounts of long-term care costs.
"Some people may look at their net worth and figure it is large enough that they can
pay for the care themselves," she said.
Elwin E. Gilchrist of the Office of Infantry Proponency at Fort Benning plans to buy a
policy.
"Most people are going to need long-term care in the future, and with my long-term
medical problems, it is definitely a fact I will need it," Gilchrist said.
Some of the plans that attracted Gilchrist include in-home care, inflation protection,
care coordination services for qualified relatives of employees and waiver of premium
while receiving benefits, he said.
In addition, the program features group premiums, coverage for informal health care
provided by friends or family members, international benefits and it is guaranteed
renewable, officials said.
For more
information, call (800) LTC-FEDS or visit www.LTCFEDS.com
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