The best time for your family members to consider long term care insurance is long before they need it.
The Office of Personnel Management has launched Federal Long-Term Care Insurance Program 3.0, a new plan option and rate structure designed to keep premium rates under control amid a rapidly changing market.
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.
Attorney Tom O’Rourke joins host Mike Causey on this week’s Your Turn to answer your estate planning questions. December 28, 2016
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.
The election may be over, but federal employees still face uncertainty on a number of key issues, not least of which is how the government will be funded.
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.
Senior Correspondent Mike Causey asks, do you dread making a decision about two very important federal benefits open seasons?