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Crippling medical bills are the number one cause of bankruptcy in this country, but federal workers can avoid financial ruin — if they pay attention to open season.
The Office of Personnel Management's inspector general says the agency needs a contingency plan to address risks in the long-term care insurance market.
It's good news for feds who won't be facing a 188 percent premium hike in their long-term care insurance like Senior Correspondent Mike Causey.
Reps. Don Beyer and Gerry Connolly (D-Va.) haven't forgotten about rising premium rates to the Federal Long Term Care Program, and they certainly haven't forgotten about the Office of Personnel Management's response when asked what the agency planned to do about rising costs.
John Hancock Life & Health Insurance Company, OPM's provider for the Federal Long Term Care Program, said "a confluence of factors" led to the sudden and drastic increases in premiums for 2017.
Most Federal Long Term Care Program policyholders chose to accept higher premiums or took advantage of special benefit reduction options during this summer's enrollee decision period. Premiums rose for about 264,000 active and retired federal employees by as much as 126 percent.
What, if any, changes should you make to your coverage in the federal long term care insurance program? Paul Forte and Joan Melanson with Long Term Care Partners will answer that question and explain the long-term care insurance dilemma when they join host Mike Causey on this week's Your Turn radio show. September 21, 2016
A little more than a month after the Office of Personnel Management dropped its long-term-care bombshell, the House Oversight and Government Reform Committee is asking where exactly that bomb came from.
In today's Top Federal Headlines, Maryland's two Senators write the Office of Personnel Management to express the concern they're hearing from federal employees about the dramatic premium increases for the program.
The Office of Personnel Management says long-term care insurance members will see premiums rise by as much as 126 percent. Participants can start looking at their package options July 18.
For people in, or going into the military, the benefits programs — while excellent in some cases — are a mystery. Many people don't realize that members of the uniformed military services are eligible for the government's long term care insurance program.
Premiums are going up for new enrollees to the Federal Long Term Care Insurance Program. The average increase is about 30 percent — but it depends on your age and your policy. Tammy Flanagan is senior benefits director for the National Institute of Transition Planning. She tells In Depth with Francis Rose that price hikes to the long term care insurance are just one example where your expenses during retirement might be higher than you expected.
Today's FEDtalk will feature a roundtable discussion of one of this year's hottest topics - acquisition reform. January 9, 2015
Host Mike Causey is joined by Paul Forte and Beth O\'Brien of Long Term Care Partners, and Federal Times reporter Stephen Losey. October 26, 2011