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...
The Federal Long Term Care Insurance Program (FLTCIP) offers eight daily benefit amounts (DBAs) from $100 to $450 in $50 increments. This is the maximum amount your insurance will pay in any single day.
Which DBA Is Right for You?
If you want your DBA to approximately match the 2013 national average daily cost of nursing home care, you may want to choose a $250 DBA.3
If you are able to pay a portion of the cost of care out of your own pocket, (for example, from your savings) or if you live in an area where the cost of care is lower than the national average, you may want to choose a lower DBA.
On the other hand, you may want to choose a higher DBA if you live in an area where the cost of care is higher than the national average. It is important to keep in mind that services can be more costly in metropolitan areas. To find the average daily cost of care in your area (for home care, assisted living facilities, and nursing home care), use our cost of care tool.