What\'s the second worst thing that could happen to you? How about becoming totally helpless because of an accident, illness or old age. So what\'s first? Not b...
Most people don’t like to think about what would happen to them, and their families, if they are unable to take care of themselves because of age or an accident. You can become totally dependent at 30 as well as 90. This is not an old folks issue by any means.
The only thing worse than planning for the worst is not planning for it. It could destroy your dignity and self-esteem and bankrupt you and your family. Instead of leaving your kids a legacy, you might leave them with a pile of debts.
This is the long term care insurance (LTC) open season for members of the federal family. If you have coverage via Uncle Sam or through a private carrier, you may want to review what you have, consider what you need and either sign up or make changes in current coverage.
My mother, a retired fed, needed almost total care in her last couple of years. Thanks to her civil service retirement check, a modest Social Security benefit and her LTC policy, she got the best care at minimal costs to me and her grandchildren who helped a lot.
So I asked benefits expert Tammy Flanagan to talk about LTC. As always, she hit it out of the park. This is what she said:
I thought it might be good to point out the three things about the federal plan that are relatively unique and not always available in the private LTC market. This will help federal employees as they debate whether to buy the federal plan or shop around the private insurance market. I definitely think that this purchase is one that should be shopped for both in and outside of the federal plan. There may be discounts available, shared policies for you and a partner or spouse, and hybrid life insurance/ long term care insurance products that might interest you that aren’t available in the federal plan. But… these advantages of the federal plan should not be overlooked as they are valuable features you might be glad to have:
Here’s a list of all of the advantages specific to the FLTCIP: ltcfeds.com.
To reach me: mcausey@federalnewsradio.com
Nearly Useless Factoid
by Suzanne Kubota
The headline from NewScientist says it all: “Painkillers lose their potency in space”.
MORE FROM FEDERAL NEWS RADIO
No thanks: Annual celebration of feds on the Mall canceled
Other headlines from this morning’s Federal Newscast: IG: FEMA unprepared for disaster, TSA union voting ends, Hatch Act prohibits most Obama photos in federal offices.
Obama: Innovation, DoD budget cuts needed to reduce debt
President Obama said the Defense Department must continue to cut wasteful spending from its budget for the country to reach fiscal health. At the same time, the country must continue to invest in energy, science and technology, he said.
OPM: Tips to meet June 7 telework deadline
The Office of Personnel Management is offering some help with its new Guide to Telework in the Federal Government, detailing how agencies can meet the requirements of the law.
Copyright © 2024 Federal News Network. All rights reserved. This website is not intended for users located within the European Economic Area.