OPM, John Hancock Insurance answer long-term care premium hikes

From “OPM offers little relief for long-term health care increases” on FederalNewsRadio.com:

“Senator Susan Collins (R-Maine) will see her long term health care premiums increase. So will Daniel Green, the Office of Personnel Management’s deputy associate director for employee and family support policy, and his wife.

“And so will Chester Joy, a federal retiree who spent his career at the Government Accountability Office, and the reason why Collins expressed dismay and Green tried to explain why the increases are coming.

“Joy joins many of the more than 225,000 federal employees and retirees who are confused and frustrated about facing up to a 25 percent increase in their premiums for long term health care insurance after initially believing they would never see their premiums increase if they took on the more expensive option, called automatic compound inflation (ACI) plan.”

click here to read Mr. Joy’s testimony and the marketing materials

click here to watch the entire hearing