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Notices
Important: We will make our decision whether to issue your insurance coverage based on your responses to the questions on your application. We will send you a copy of your application. We may deny benefits or rescind your insurance coverage if: your answers are incorrect or untrue for any reason or the answers changed between the date you completed your application and the date your coverage would become effective. The best time to clear up any questions is before a claim arises! If for any reason, any of your answers is or becomes incorrect before the date your coverage would become effective, please contact: Federal Long Term Care Insurance Program (FLTCIP), P.O. Box 797, Greenland, New Hampshire 03840-0797. You may also call 1-800-LTC-FEDS (1-800-582-3337) TTY 1-800-843-3557.
The Group Policy, including the Benefit Booklet, is designed to be a qualified long term care insurance contract under Section 7702B(b) of the Internal Revenue Code of 1986, as amended. Subject to specified dollar limits that vary depending on your age, you may be able to include your premium in your itemized deductions on your Federal income tax return, if your total medical expenses, including the allowable portion of your premium, exceed 7½% of adjusted gross income. The allowable dollar limits are reviewed each year by the U. S. Treasury and adjusted accordingly. We have designed the Group Policy so that benefits you receive under the Federal Long Term Care Insurance Program (FLTCIP) should be tax-free. Also, many states offer tax incentives for residents who purchase long term care insurance. Please remember that tax laws can change. It is important to consult your tax advisor if you have any questions or need further details.
The FLTCIP may not cover all of your long term care costs. Please review all coverage limitations and exclusions when you receive your Benefit Booklet, including the Schedule of Benefits.
COVERAGE UNDER THE FLTCIP IS GUARANTEED RENEWABLE. This means we will not cancel your coverage as long as you pay your premium on time. However, this does not mean that premiums are guaranteed to remain unchanged. See the next paragraph.
WHEN WE MAY INCREASE PREMIUMS. We reserve the right to increase premiums in the future. However, it is important to note that we cannot single you out and raise your premium because of your advancing age, declining health, claim status or for any other reason related solely to you. We may only increase premiums if you are among a group of enrollees whose premium is determined to be inadequate. While the Group Policy is in effect, OPM must approve the increase in premium. As a reminder, your premium may also increase if you voluntarily elect to increase your benefits. Please see the subsection When Your Premium May Change.