Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Who's in Federal Long Term Care Insurance Program?
Old 04-28-2014, 09:05 PM   #1
Full time employment: Posting here.
Join Date: Jan 2007
Posts: 962
Who's in Federal Long Term Care Insurance Program?

Anybody in this insurance program?

It has only been available since 2000 (it appears). There is an "unlimited lifetime" option.

Any comments welcome. I've read the other LTC threads, but since this is for federal employees and some other groups (and relatives) I'm interested in what anyone thinks of this plan (and its variations).

Kindest regards.

(not sure I posted this question in the right section)

spncity is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-29-2014, 07:10 AM   #2
Recycles dryer sheets
Kaufmanrider's Avatar
Join Date: Jun 2013
Location: Forney
Posts: 120
I just happened to receive a letter from OPM regarding long-term care. I'd be interested in hearing from others. I think my biggest concern is that the premiums are not guaranteed. I believe they have gone up substantially from when the program began and there is a footnote on the calculator page that warns you about possible future premium increases.

Kaufmanrider is offline   Reply With Quote
Old 04-29-2014, 07:58 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
Join Date: Feb 2006
Location: Washington, DC
Posts: 9,116
DW and I have been in from the inception. My premium went up once when OPM renegotiated with a new carrier but has been stable for the many years since. I chose the Federal program for one simple reason -- OPM oversees the contracts and can help insure that the carrier meets its obligations. While that doesn't guarantee no increases and doesn't guarantee a good result in any individual case it seems a useful safeguard. A case in point may illustrate. The Federal program includes parents (an eldercare feature). When DW and I enrolled we suggested that her parents also enroll and they looked at the program. Wise shoppers that they were, they talked to a broker friend of theirs who suggested that lots of "better deals" could be had by bypassing the useless Federal bureaucrats. Knowing how smart they viewed themselves and not wanting to be blamed for possible future problems if we pushed them into the Fed program, we held our tongues. They signed the dotted line on the broker's suggested plan but then, with literally days to go on the Federal open season, gotchas and extra charges started to show up on their better deal. They freaked out and wanted to switch to the Feds. I ended up spending hours gathering info and filling out their forms and got the application in at the 11th hour. DW's father ended up using his benefits for many months of extra care at a nursing home during the final stages of Alzheimers. DW's mother in law is tapping them now. Neither had any problem getting what was promised.

As always, YMMV.
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Long term loss combined with long term gain dmpi FIRE and Money 9 12-21-2012 04:27 PM
Long-term Care Insurance and Life Insurance thatgirlmjl Young Dreamers 15 01-20-2012 12:24 PM
New Federal Long Term Care oldguyER Health and Early Retirement 2 12-16-2009 08:52 AM
Federal Long Term Care Insurance Premium Increases Purron Health and Early Retirement 77 11-24-2009 08:17 PM
Long-Term Care - Part of Health Care Reform Bill chinaco Health and Early Retirement 3 07-19-2009 03:53 PM

» Quick Links

All times are GMT -6. The time now is 02:27 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.