Time-Saver Tip: You can skip the following column IF you have a couple of million dollars stashed away, or you, like your brother Kal-El (aka Superman) were born on the planet Krypton. If you said yes to either option you can also skip the long term care insurance (LTC) open season that will run from April 4 to May 27, 2011.

But if you are unable to leap tall buildings in a single bound, are not bullet proof or lousy rich, you might want to considering buying an LTC policy either through Uncle Sam, or (if you are young and healthy) from one of the few reputable companies that sell it. (Many firms that rushed into the LTC insurance business years ago no longer offer it because of the skyrocketing costs of taking care of America’s aging population.)

During the federal LTC open season, active duty federal workers and their spouses (and same sex domestic partners of civilians) will be able to get coverage by meeting “abbreviated underwriting” standards. All other qualified relatives will be eligible but are subject to more stringent “full underwriting” requirements. In other words, it will be easier for you to get coverage than your mother or your son.

Most people who know a lot about LTC say that most people don’t really know very much about it. It covers things Medicare and your health insurance (no matter how good it is) don’t. Like paying for someone to help you eat, dress, get in and out of bed, go to the toilet, etc. The stuff none of us like to think about, don’t want to happen to us and don’t want our loved ones stuck with the job.

(Personal Note: I got a group plan years ago. My only regret is that it didn’t offer inflation protection and the maximum daily benefit I got seems very low now. Still it is 100 percent better than not having it. And I hope all the premiums I’m paying into it are “wasted.”)

LTC is one kind of insurance (fire is another) that you hope you never need or use. If you are lucky, you will have paid premiums for nothing. This is one you don’t want to collect on. But if you need it, wow! Like lots of people I have been there, done that.

My mother, a retired fed, healthy, life-long walker (she didn’t have a car until she was in her 30s) had an accident which seemed to trigger dementia (or maybe the reverse.) At any rate she went downhill quickly (two to three years) although probably, had she had a choice, not quickly enough for her. From being a tough, independent single mother with one semi-delinquent problem child (that would be me!) she became almost totally dependent.

Thanks mostly to my kids (and Karen the daughter-in-law from heaven,) my mother’s last years were as good as possible, given the situation. She was in a fine, bright, clean nursing home. Close to family. The staff was great. It was, under the horrible circumstances, as good as it gets. She made it possible because she had her civil service retirement annuity, some Social Security and LTC she purchased before leaving government. It wasn’t the federal program, but it was more than adequate. To the extent possible, it kept her dignity. And kept her family from having to make even more painful choices and decisions, including going broke.

Although most people associate LTC with old age, your need for it can come anytime. Remember actor Christopher Reeve, the other Superman, and his long and expensive treatment. And he was a millionaire!

In her latest book, “Never Say Die” author Susan Jacoby talks about the realities of aging. In a review of the book in Sunday’s Washington Post, Judith Viorst describes it as a “tough-minded, painful-to-read and important book.” Jacoby (a former colleague at The Washington Post) talks about aging from personal experience nursing an Alzheimer’s patient. She also has some sobering statistics that could (should) make a believer out of you.

So do yourself a favor. If you don’t have LTC, check it out. And tell friends and family members too. I nagged my mother into doing two things she didn’t like: A) Using seat belts and B) Getting LTC coverage. Two of the best things either of us ever did. It was a good tip from me, and a great gift to and from her.

For details on the upcoming open season, click here.

To reach me: mcausey@federalnewsradio.com

Nearly Useless Factoid
by Suzanne Kubota

The world’s smallest penguin species is about a foot tall and blue. LiveScience says the “blue penguin” has two other names: the little, or fairy, penguin.

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