The Federal long Term Care Insurance Program
A Insurance Article Contributed by Shobha Cutting
The Federal long Term Care Insurance Program
The Federal Long Term Care Insurance Program, offered by either the John Hancock Insurance Company or the Metropolitan Life Insurance Company, provides reimbursement to policyholders of expenses incurred in obtaining assistance when the individual is unable to perform at least two 'activities of daily living' (ADL's) for a period of 90 days or more or if the policyholder looses cognitive abilities and requires constant supervision.
The Federal Long Term Care Insurance is designed exclusively for the Federal employees. The Long Term Care Security Act of 2000, the people eligible to benefit from this program include retired and serving postal employees, employees of certain law courts, department of labor, members of the armed forces, their relatives and a few other groups of people. The insurance cover is portable. This means that the policyholder can retain the policy even if he/she ceases to be a member of the group that entitled them to the service, as long as the policyholder continues to pay the premium.
Premium for long Term Care Insurance Program
The amount due as premium would depend on the type of care you have opted for and your age. Premiums become due on the first day of each month. Once the waiting period is complete, no further payment of premium will be required to continue to receive benefits (receive care) from the program. Once you cease to receive benefits (you recover), you will have to resume payment of monthly premium.
Exclusions in the long Term Care Insurance Program
The following are excluded:
1. Illness or treatment necessitated by:
· Your participation in a revolt or riot.
· Attempt to commit suicide.
· Self-inflicted injuries.
2. Treatment or nursing in respect of drug abuse or alcoholism.
3. Treatment or nursing provided in a Government or Defense hospital or similar facility.
3. Services of another person who normally lived with you when you first became eligible to receive the benefits.
4. Care provided at a hospital not designated as a nursing home.
5. Any care that normally would be available from Medicare.
6. Care that would be free, if there was no insurance.
Contrary to other long term care insurance policies; this does NOT exclude injuries on account of war.
Payment of Benefits
Benefits are payable directly to the policyholder unless he/she has endorsed/assigned this receivable to some other party. The benefit cannot be endorsed to someone outside the U.S.A. Payments assigned to informal service providers will be at the discretion of the insurance agency.
International Benefits Offered by the Federal long Term Care Insurance
The benefits under this program are available outside the U.S. to the extent of 80% of their lifetime limit. If the policyholder is entitled to unlimited benefits, those available outside the U.S. will be to a maximum benefit due for 10 years.
Types of Plans
The insurance company has a choice of four pre-packaged plans. The buyer can also customize the insurance cover by selecting the benefits that he/she would prefer. The pre-packaged plans include the Facilities-100 plan that incorporates nursing home care, assisted living, hospice and respite facilities, the Comprehensive 100, 150 & 150+ plans that cover the facilities of the Facilities 100 plan plus provide for home care, adult day care and respite and hospice care at home.
