Caregiving: The FLTCIP Offers Support When You Need It Most
No matter your stage of life, it’s always a good idea to have a long-range health plan in place. One thing to keep in mind is coverage for any potential long term care needs.
Long term care is personal care and other related services provided on an extended basis to people who need help with specific everyday activities (called activities of daily living) or who need supervision due to a severe cognitive impairment, such as Alzheimer’s disease. The need for long term care can strike at any time in life due to chronic illness, injury, disability, or the aging process. And most long term care is provided at home and not in facilities. This type of care is expensive, and is generally not covered by traditional types of insurance plans or Medicare.
Who will provide care?
The need for long term care can be a significant change for someone who is accustomed to independent living. This experience can be overwhelming, not only for you—but for your loved ones too. The demands of caregiving can be stressful, and often take a toll on a caregiver’s health and well-being.
A caregiver can be your family member, friend, or neighbor. About 80 percent of care at home is provided by unpaid caregivers.(1) Caregiving responsibilities can include homemaking and hands-on care with daily activities, such as bathing, dressing, or feeding.
Taking care of a loved one is a time-consuming commitment. Even if a family member or friend can find the time to take care of you, it often comes at a tremendous financial and emotional cost. Caregiving can cost the average caregiver in lost wages and, often times, a caregiver’s own health can deteriorate. Caregivers report having difficulty finding time for one’s self, managing emotional and physical strain, and balancing work and family responsibilities.(2)
The FLTCIP can help
Applying for insurance coverage under the Federal Long Term Care Insurance Program (FLTCIP)—designed specifically for the federal family—may be a smart choice for you. The FLTCIP is designed to reimburse for qualified long term care services and can lessen or eliminate an individual's reliance on a loved one to provide hands-on care. As you assess the FLTCIP’s value, consider these important benefits:
The FLTCIP offers coverage in a variety of settings—at home or in a facility, such as an assisted living facility, an adult day care, or a nursing center—and your choice of caregiver.
The stay-at-home benefit includes a range of covered services that support care in your home, helping you maintain your quality of life in familiar surroundings.
Informal care provided by friends and family members, as long as they do not live in your home at the time you become eligible for benefits. (Benefits for family care are limited to 500 days.)
The premium stabilization feature is designed to reduce the potential need for future premium increases. Under certain conditions, this feature may be used to offset your future premium payments or provide a refund of premium death benefit to your estate or designated beneficiary.
The FLTCIP is portable and guaranteed renewable, which means you can continue to keep your coverage as long as you pay your premiums.
Start planning today
To determine if the FLTCIP is right for you, visit LTCFEDS.com or call 1-800-LTC-FEDS (1-800-582-3337) TTY 1-800-843-3557 to speak with a program consultant. They are available to answer any questions you may have and can walk you step-by-step through the plan design and application process.
Note: Certain medical conditions, or combinations of conditions, will prevent some people from being approved for coverage. You need to apply to find out if you qualify for coverage under the FLTCIP.
(1). U.S. Department of Health and Human Services. “Who Will Provide Your Care?,” longtermcare.acl.gov/the-basics (accessed May 2020).
(2). National Alliance for Caregiving. “Taking Care of You: Self-Care for Family Caregivers,” https://www.caregiver.org/taking-care-you-self-care-family-caregivers (accessed May 2020).
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