Federal employees hear about changing their health insurance coverage during an annual open season, but it's not often they are reminded to review their options for long-term care insurance.
The Office of Personnel Management in January announced that open season for the Federal Long-Term Care Insurance Program will run from April 4 through June 24. The program, which assists with health care costs for participants who need help with daily personal functions, or who have a severe cognitive illness, covers home care or care in a nursing home or assisted living facility, benefits not often included under health insurance plans.
This year, same-sex domestic partners of federal workers for the first time will be able to enroll in the program. Participants also will be able to choose from expanded coverage options under the FLTCIP 2.0 plan.
Open season for the long-term care insurance program doesn't come around often. With that as background, take our quiz to find out if you're ready.
1. Who is eligible for long-term care insurance coverage?
a. Only current federal employees can apply for this benefit.
b. Active government workers and annuitants, along with their spouses, parents and children are eligible.
c. Federal employees, military personnel, retirees and their relatives, including same-sex domestic partners, are allowed to participate in the long-term care program.
2. How much will my premium cost?
a. Long-term care premiums are the same as those in the Federal Employee Health Benefits Program and fluctuate each year.
b. Premiums depend on your age at enrollment and the level of coverage you select and will remain stable unless OPM approves a change.
c. Nothing. My agency pays for this coverage.
3. Who can apply for coverage under abbreviated underwriting rules, which require only limited health information?
a. No one. All insurance forms require full disclosure of medical history.
b. Active federal workers, their spouses and same-sex domestic partners will have to answer fewer questions than will retirees and other relatives.
c. Only newly hired employees have this option.
4. Are there multiple plan options, or am I restricted to certain benefits?
a. Just like FEHBP, enrollees have more than 200 plans to choose from.
b. There are two plan types, but participants can choose from a range of coverage periods and daily benefit allowances within each option.
c. All enrollees are restricted to one plan.
5. Can I change my coverage if my needs change?
a. Yes. You can increase or decrease your benefits at any time.
b. Yes, but only during open season.
c. No. Your initial election locks you into a specific plan.
Think you've got the basics of long-term care insurance? Click here for the answers.
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