Long Term Care Benefits: Secure Your Future, Protect Your Retirement
North American Precis Syndicate
America's veterans and their families can apply for long term care insurance long before they need it. (NAPS)
(NAPSI)—A long-term care event may occur at any age, and the
potential financial and emotional strain that accompanies it can affect you
and your loved ones.
Millions of Americans require long term care during their lifetimes, which
includes the need for cognitive or physical assistance with simple tasks like
bathing, eating and dressing—the everyday activities most people do
without a second thought. Unfortunately, traditional health insurance—including
TRICARE or TRICARE for Life—does not pay for the chronic, ongoing
assistance with daily living most often associated with long term care.
Members of the armed services may apply for benefits provided by the
Department of Veterans Affairs (VA), though several factors determine
eligibility. For this reason—and to ensure you’re prepared for
any situation—it is important to understand how traditional VA health
care benefits work—and what a long-term care event might mean for your
Health Insurance And VA Eligibility
While the VA health program provides coverage for long term care, program
entry is determined by the VA based on the number of veterans covered by
congressional funding allocated each year. Due to this limited enrollment,
the VA has established eight separate priority groups to categorize enrollees
and determine the level of benefits to which they are entitled—and
possibly whether they are eligible at all.
Many additional factors come into play, including service-connected
disability status (70 percent or greater), current income levels, and even
one’s ability to contribute to the cost of care. Members of the
uniformed services seeking long term care benefits may find they are unable
to meet the agency’s criteria.
Beyond eligibility, the level of coverage available to you for long term
care, which can be very expensive, may not be enough.
The Federal Long Term Care
Insurance Program (FLTCIP)
For all those reasons, you may wish to consider applying for stand-alone
long term care insurance as offered through the
With benefits tailored to the federal family, the FLTCIP is a good way to
help protect your savings and assets, should you or your loved ones need long
term care services someday.
Since 2002, the FLTCIP has offered active and retired members of the
uniformed services the opportunity to help control their future long-term
care needs. Designed with solutions for a range of financial situations, this
employer-sponsored program has grown to be the most successful and utilized
program of its kind, providing comprehensive coverage for more than 270,000
Active and retired members of the uniformed services are eligible to apply
for coverage under the FLTCIP, as are certain family members or qualified
relatives. (Family members may apply, even if you are not eligible. Qualified
relatives include your spouse, domestic partner, parents and parents-in-law,
and adult children.)
For more about the FLTCIP’s comprehensive
benefits and features, or to find average long term care costs in your area,
For personalized assistance, call 800-LTC-FEDS (800-582-3337) or TTY
800-843-3557 to speak with a program consultant, who can answer questions and
walk you through the plan design and application process.
Note: Certain medical conditions, or combinations of conditions, will
prevent some people from being approved for coverage. You need to apply to
find out if you qualify for FLTCIP coverage.
The FLTCIP is sponsored by the U.S. Office of Personnel Management,
insured by John Hancock Life & Health Insurance Company, and administered
by Long Term Care Partners, LLC.
“With benefits tailored to the federal family, the
Federal Long Term Care Insurance Program (FLTCIP) is a good way to help
protect your savings and assets, should you or your loved ones need long term
care services someday. www.ltcfeds.com. http://bit.ly/2KtaGDc”
On the Net:North American Precis Syndicate, Inc.(NAPSI)