Patrick N McCafferty Account Manager amp Media Relations Coordinator Long Term Care Partners LLC FLTCIP Report Card More than 273000 current enrollees More than 10000 enrollees have made claims to date ID: 552751
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Slide1
The Federal Long Term Care Insurance Program (FLTCIP)
Patrick N. McCafferty
Account Manager & Media Relations Coordinator
Long Term Care Partners, LLCSlide2
FLTCIP Report Card
More than 273,000 current enrolleesMore than 10,000 enrolleeshave made claims to date
More than $10 million per month are paid in claims, and this number is growingClaim approval rate
: 96%
3. These statistics are based on current LTC Partners data (accessed April 2015).Slide3
The FLTCIP Offers Comprehensive Coverage
Decide where your care will take place:HomeAdult day care center
Assisted living facilityNursing homeHospice facilitySlide4
The FLTCIP Offers Comprehensive Coverage
Identify your caregivers:Formal caregiversHome health and care agencies,
visiting nurse associations, and hospice agenciesInformal caregiversFriend, relative, or
private caregiver, as long as that person
did
not live in your home
at
the time you became
eligible
for
benefits
Slide5
Designing Your FLTCIP Coverage
It’s easy! Choose a daily benefit amount
(DBA). Choose a benefit period.Choose your inflation
protection.Slide6
Decision #1: Daily Benefit AmountChoose between $100 and $450 per day
$50 incrementsCovered expenses are paid up to 100% of DBA for care, regardless of domestic location*Consider the cost where you live
Launch the Online Consultant Tool at www.LTCFEDS.com
* International
benefits are reimbursed at a rate of 80%. Other restrictions may apply. Slide7
Cost of Care CalculatorSlide8
Decision #2: Benefit Period
Choose a benefit period 2 years 3 years 5 years
UnlimitedThis number will be multiplied by 365 when you calculate your overall benefit due to daily reimbursement of benefitsSlide9
How It Works:
Maximum Lifetime Benefit
Daily benefit amount* Benefit period (
× 365 days)
Maximum lifetime benefit
*Inflation protection
works to
help keep
this number relevant
over
the
years.
×Slide10
How It Works:
Maximum Lifetime Benefit
$150* (DBA)1,095 days (3-year benefit period)
$164,250 (MLB)
*Inflation protection
works to
help keep
this number relevant through the
years.
×Slide11
Decision #3: Inflation Protection
Keep pace with the rising costs of care.Two approachesAutomatic compound inflationoption
(ACIO)Future purchase option (FPO)Slide12
Automatic Compound Inflation OptionChoose: 4% or 5% ACIO
Your benefits automatically increase 4% or 5%, compounded annuallySlide13
Future Purchase Option
FPO is the most cost-effective way to begin planning.There is no built-in inflation protectionYou have the ability to increase
your benefits every two years based on current inflation ratesYour premium will increase for each inflation increase taken. The additional premium for each
increase will be based on your age and the premium rates in effect at the time the increase
takes effect Slide14
FLTCIP Built-in Features
Waiting period90 calendar daysStay-at-home benefitAvailable during waiting periodBenefit is equal to
30 times your DBABenefits paid will not reduce your MLBSlide15
FLTCIP Built-in Features
Expert care coordination is provided by registered nurses toHelp find high-quality care providers in your area
Arrange for discounted services Support local and long-distance caregivingAssist
with changing your plan of care as needs change Note: Certain care coordination services are
available
to
qualified relatives,
even if they are not enrolled. Slide16
Who Is Eligible to Apply?
Federal and U.S. Postal (USPS) employees eligible for the FEHB ProgramFederal and USPS annuitantsActive and retired members of
the uniformed servicesQualified relativesCurrent spouses and domestic partners of eligible employees
and annuitantsParents, parents-in-law, and stepparents of living
eligible employees
Adult children of living eligible
employees and
annuitantsSlide17
Plan for Your FuturePremiums are based on your age at time of application
The FLTCIP is medically underwritten Each participant must apply individuallyCoverage is fully portableQualified relatives may apply
even if you don’tSlide18
Security for Your Future
The FLTCIP isThe largest employer-sponsored long term care insurance program in the countryUnderwritten by John Hancock Life & Health Insurance Company
Sponsored by OPMFLTCIP premiums are held in an experience fund, a fund separate from John Hancock’s other assetsHigh service standardsSlide19
Are My Premiums Guaranteed?
FLTCIP coverage is guaranteed renewable, but premiums are not guaranteedYour premium will not change because of your age or health
Premiums may only increase if you are in an enrollee group whose premium is determined to be inadequateThe U.S. Office of Personnel Management (OPM) must approve an increase in premiumYour premium may also increase if you voluntarily elect to increase your benefitsSlide20
Next Steps
Get in touch!Program consultants are available:Weekdays, from 8 a.m. to 6 p.m. (ET)1-800-LTC-FEDS (1-800-582-3337)
TTY 1-800-843-3557 Visit www.LTCFEDS.com for more information:
WebinarsPlanning toolsProgram Overview brochureSlide21
Thank you.
1-800-LTC-FEDS (1-800-582-3337) TTY 1-800-843-3557
www.LTCFEDS.cominfo@ltcpartners.com
The Federal Long Term Care Insurance Program is
sponsored by the U.S. Office of Personnel Management,
offered by John Hancock Life & Health Insurance Company,
and administered by Long Term Care Partners, LLC.