Long term care insurance is designed to cover the costs associated with long-term services and supports, generally not covered by regular health insurance, Medicare, or Medicaid. These services assist individuals with chronic illnesses or disabilities who need help with everyday activities over an extended period. Recently, the Federal Long Term Care Insurance Program (FLTCIP) has announced an extension to its suspension of new applications. This suspension, now effective until December 19, 2024, and potentially longer, means that individuals who are not currently enrolled cannot apply for coverage, and current enrollees cannot increase their coverage during this period. This decision, made by the Office of Personnel Management (OPM), is attributed to the instability in long term care costs and market challenges in providing benefit offerings at reasonable premium rates.
Long term care is needed when someone can no longer perform everyday tasks on their own due to aging, illness, or disability. These tasks, often referred to as Activities of Daily Living (ADLs), include things like bathing, dressing, eating, toileting, transferring (moving from a bed to a chair), and continence. Furthermore, long term care also addresses the needs of individuals with severe cognitive impairments such as Alzheimer’s disease. The costs for these services can be substantial and can quickly deplete savings, making long term care insurance a valuable consideration for many.
Alt text: A caregiver assisting a senior woman with a warm smile in her home, illustrating compassionate in-home long-term care.
When active, the FLTCIP offers long term care insurance to a wide range of individuals connected to federal service. This includes most Federal and U.S. Postal Service employees and annuitants, active and retired members of the uniformed services, and their qualified relatives. Typically, to be eligible for FLTCIP coverage when the program is open, most employees must be eligible for the Federal Employees Health Benefits (FEHB) Program, regardless of actual enrollment. Annuitants have a different eligibility criteria, not needing FEHB eligibility. It’s important to note that certain pre-existing medical conditions might affect approval for coverage. Applying is the only way to definitively determine eligibility.
For those seeking more detailed information about the FLTCIP, Long Term Care Partners can be contacted at 1-800-582-3337, or their website https://www.ltcfeds.gov/ provides comprehensive resources. Furthermore, the LTCFEDS Care Navigator is a valuable resource library designed to support both caregivers and individuals in need of care, offering guidance through the complexities of aging and transitioning care needs.
In conclusion, understanding what long term care insurance is, and how programs like FLTCIP operate (when active), is crucial for planning for future healthcare needs. While FLTCIP is currently suspended for new applications, exploring the concept of long term care insurance remains a proactive step in ensuring financial and personal well-being in the face of potential long-term care requirements.
