Jesse Slome, leading long term care insurance expert, director AALTCI

Los Angeles, CA – Aug 4, 2015 – Costs for the long term care insurance program offered to federal employees, military personnel, retired federal workers and certain family members have been increased.

“This frankly was a surprise because the program is up to be rebid shortly when one assumes rates will go up,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI).  “The last premium increase took place back in 2009 which made this policy less expensive than many policies available to individuals.  That may seem good but it also means a rate increase for policyholders or a change in policy benefits could be likely.”

According to Slome, the Federal long-term care insurance program is the nation’s largest.  “It’s a voluntary program and we haven’t seen numbers lately but at one time, there were some 270,000 plan participants,” Slome acknowledged.

“Is the federal plan the best option for someone who is eligible?” Slome rhetorically asks.  “It could very well be, especially if you are a single woman or have some existing health conditions.   But if you are in good health or qualify for a discount insurers offer to couples or partners when one or both apply, it really pays to compare.”

Slome advises consumers interested in comparing long term care insurance policies work with a knowledgeable specialist who can compare at least four or five of the major insurers.  “There are significant price and policy option differences that make it important to work with someone who does not favor just one particular policy,” Slome shares.

The American Association for Long Term Care Insurance works to create heightened awareness among both consumers and insurance professionals.     To learn more or to locate a knowledgeable insurance specialist call 818-597-3227 or visit the organization’s website at www.aaltci.org.

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According to a Federal Register notice issued on Friday, the Office of Personnel Management (OPM) announced that open season for the Federal Long-Term Care Insurance Program will run from April 4 through May 27.

Active federal employees, their spouses and same-sex domestic partners who currently are not enrolled can apply under abbreviated underwriting rules and will have to provide only limited health information. Retirees and other qualified relatives will undergo a longer review of medical and health history in the application process.

“The federal long-term care insurance plan is excellent coverage and several hundred thousand individuals participate in the program,” explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance (http://www.aaltci.org/).  The program does not offer certain discounts available from individual policies sold by insurance agents.  “If you are married and in good health, you may be able to get more coverage for less cost,” Slome notes. 

Same-sex domestic partners of federal workers for the first time will be able to enroll in the program, which helps pay for the cost of care when participants need help with daily activities, or have a severe cognitive illness such as Alzheimer’s disease.

OPM in June 2010 issued a final regulation broadening the definition of relatives qualified to participate in the long-term care insurance program to include the same-sex domestic partners of federal employees, U.S. Postal Service workers and retirees. Prior to the new rule, which took effect on July 1, 2010, only spouses, parents and adult children were eligible for coverage. 

The expansion of coverage follows a June 2009 presidential memorandum asking that government do as much as it can legally to put same-sex domestic partners on equal footing with heterosexual married couples.

Coverage will begin on the first day of the month after an application is approved, and premiums will be based on the enrollee’s age and option selected, according to the notice.

The American e American Association for Long-Term Care Insurance’s Consumer Information Center http://www.aaltci.org/long-term-care-insurance/ has been voted the nation’s #1 source for access to information and competitive insurance quotes

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