Long term care is not just for the elderly! Think you're too young?

Nearly 41% of long term care is provided to people under age 65."

- Georgetown University Long-Term
Care Financing Project,
Long-Term Care Financing:
Policy Options for the Future,
June 2007.


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With the FLTCIP, Designing a Plan Is Easier Than You Think

Members of the Federal family often say how easy it is to apply for coverage with the Federal Long Term Care Insurance Program (FLTCIP). And it's no wonder. All it takes to design a plan are three simple decisions. So if you've put off applying to the FLTCIP because you thought it would be difficult, it's time... Read more...

 

Inflation Protection Options

Inflation Protection Options

To help your benefits keep pace with inflation and the rising costs of care, the Federal Long Term Care Insurance Program (FLTCIP) offers two types of inflation protection:

For complete information on inflation protection options, see the Relationship of Cost of Care and Benefit Selection section in the FLTCIP 2.0 Outline of Coverage.

Automatic Compound Inflation Option (ACIO)

FLTCIP 2.0 offers a 4% ACIO and a 5% ACIO. With these options, your DBA and remaining portion of your maximum lifetime benefit (as well as other remaining benefit amounts listed in your schedule of benefits) will automatically increase by either 4% or 5% (depending on the percentage shown on your schedule of benefits) compounded every year. The increases occur on each anniversary of your original effective date of coverage (or the date you switch to one of these options). Increases under this option are made even if you are eligible for benefits, without regard to your age, claim status, claim history, or the length of time your coverage has been in effect.

If you select the ACIO, your premium is designed to include all future inflation increases you will receive each year while you are insured. Your premium will not increase with each inflation increase under this option.

Please note: Premiums are not guaranteed. Your premium will not change because you get older or your health changes or for any other reason related solely to you. However, your premiums may increase if you are among a group of enrollees whose premium is determined to be inadequate. While the group policy is in effect, the U.S. Office of Personnel Management (OPM) must approve the change.

If we determine in the future that the cumulative actual rate of inflation in the cost of long term care services since the last increase under this provision is significantly higher than the automatic compound inflation option rate shown on your schedule of benefits, compounded annually, OPM and we will agree upon a method to allow you, at your option, to adjust your daily benefit amount. This method will account for the higher rate of inflation for an additional premium if you are not then eligible for benefits.

Future Purchase Option (FPO)

With the FPO, every two years we will increase your daily benefit amount and the remaining portion of your maximum lifetime benefit (as well as other remaining benefit amounts listed in the schedule of benefits), except as described below. Increases will occur every two years on January 1st. An FPO offer for current enrollees will take place in the fall of 2013 with a January 1, 2014 effective date. Your coverage must be in effect for at least 12 months in order for you to receive your first increase under this provision.

If you do not want the increase, we must receive your rejection before the date specified in the increase notice. If you want the increase, you do not have to take any action other than paying the additional premium. The increase will automatically take effect. Increases under this option will be made regardless of your age, but we will not increase your benefits under this option if you are eligible for benefits. Increases under this option do not require you to provide evidence of your good health.

Please note: Premiums are not guaranteed. Your premium will not change because you get older or your health changes or for any other reason related solely to you. However, your premiums may increase if you are among a group of enrollees whose premium is determined to be inadequate. While the group policy is in effect, the U.S. Office of Personnel Management (OPM) must approve the change.

 


Apply today

Apply Today!

Federal family members can apply for coverage anytime—you do not have to wait for the next open season. Premiums are based on your age at the time of application—the younger you are when you apply, the lower your premium will be.

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