Other Long Term Care Options in the Federal Employee Long Term Care Insurance Program

AMHERST, N.Y. - Oct. 15, 2018 - PRLog -- Part 9 of the Federal Employee Benefits TV series: Air Date October 29 , 2018.

Topic: Other Long Term Care Options in the Federal Employee Long Term Care Insurance Program

The Federal Long-Term Care Insurance Program (FLTCIP)

The Federal Long-Term Care Insurance Program (FLTCIP) provides long term care insurance to help pay for costs of care when enrollees need help with activities they perform every day, or you have a severe cognitive impairment, such as Alzheimer's disease. Most Federal and U.S. Postal Service employees and annuitants, active and retired members of the uniformed services, and their qualified relatives are eligible to apply for insurance coverage under the FLTCIP. Most employees must be eligible for the FEHB Program to apply for coverage under the FLTCIP.

Other Options in Long Term Care Insurance

*Remember to review your Long Term Care Insurance Policy with a Long Term Care Insurance Agent

Shared Care

Couples typically require two expensive plans to ensure that both individuals are covered. Naturally, this is worrisome, especially with the way the costs have been increasing over the years. In fact, studies show that approximately 25% of couples age 65 can expect to spend half a million on LTC services.

Cash Benefit

This rider is advantageous to people who wish to receive care at home. This is because this feature allows them to receive their cash benefit on a daily basis, regardless of whether they received care that day or not. It also entails that the coverage starts once one hour of care is used.

Moreover, people receiving care from loved ones can benefit from this because they do not need to provide the bills after eligibility is established. This means that care recipients can use the money to pay for services provided by family caregivers.

Daily Benefit

This is the maximum amount that your insurance provider will pay for covered ltc services in any given day.
Benefit Period

This refers to the minimum length of time your insurance provider will pay your benefits. The usual range is one year to unlimited coverage.

Restoration of Benefits

This ensures that maximum benefits are enforced if you receive benefits for a certain period of time, then recover and stop receiving benefits for a period of time.

Nonforfeiture Benefits

This rider allows the policyholder to retain some policy benefit that is usually equal to the premiums paid-in just in case you lapse your policy. There are some states that require this provision.

Reimbursement

. On the one hand, reimbursement policies pay benefits based on the services and expenses used. This means that policyholders typically pay for the services first, and then the policy, as the name implies, will reimburse the amount later on.

Survivor Waiver of Premiums

In case no claims were made against either policy when a spouse dies, the survivor's premium will be waived permanently. But this varies depending on insurance companies.

The award winning "The ABC's of Insurance" has a new channel and time

The channel is 1301 on Spectrum Cable in Western New York

The time is Mondays at 12:30 pm

The award winning "The ABC's of Insurance" has been on TV since November of 1997.  The TV show has been designed to be educational on insurance topics.  Helping people to understand insurance and to ask the correct questions.

The show has done a variety of different topics including

·         Home Insurance

·         Auto Insurance

·         Boat Insurance

·         Long Term Care Insurance

·         A Real Estate series

·         A Health series

·         A Long-Term Care series

·         Prevent your money going to Medicaid

·         Life Insurance

·         LesLTC Process

·         Long Term Care Insurance

·         Plus, many more TV shows

Go to  http://www.wnyinsurance-quote.com/tv_shows/tv_shows.html  to see a list of past TV shows

Upcoming TV shows of 2018

·         How to Protect your money from Medicaid

·         Fall Prevention

·         Avoid Probate Series coming in Spring of 2019

·         Federal Employee Benefit Series

·         Common Mistakes

If you have a topic you want to see on "The ABC's of Insurance" email Les at Les@lesltc.com and in the subject line put TV show topic ideas