News and Announcements
Ensure Mom Has the Care She Needs
Alzheimer's Disease: Planning for an Unknown Future
Caregiving Presents Workplace Challenges
Cost - General Questions
Select a question below:
- How much does Federal Long Term Care Insurance Program (FLTCIP) coverage cost?
- Use our premium calculator to determine the premiums for your age and the options you select. The calculator also gives you the ability to compare premiums or various options to help you to select the options that are best for you.
- What are the premiums based on?
- Your premiums are based on the options you select, your age, and the premium rates in effect on the date that Long Term Care Partners receives your application.
The younger you are when you apply, the lower the premiums. Premiums are the same for all purchasers of the same coverage at the same age—employees, annuitants, and all the other
If you choose the automatic compound inflation option,
your daily benefit amount (DBA) and the remaining portion of your maximum lifetime benefit (MLB) will automatically increase at a rate of 5% or 4% (depending on the percentage you choose)
compounded annually with no corresponding annual increase in your premium. If you choose the future purchase option for inflation protection, your premiums will increase when your benefits increase.
Please note that premiums are not guaranteed. Your premium will not change because you get older or your health changes or for any other reason related solely to you. Premiums
may only increase if you are among a group of enrollees whose premium is determined to be inadequate. While the group policy is in effect, the U.S. Office of Personnel Management (OPM) must approve the change.
- Are premiums for FLTCIP 2.0 (the latest plan design) higher than premiums for FLTCIP 1.0?
- FLTCIP 2.0 includes a number of benefit enhancements. Consequently, premiums for FLTCIP 2.0 are higher than premiums for FLTCIP 1.0.
- Does the Federal government contribute a portion of the cost of FLTCIP premiums?
- No, per the Long-Term Care Security Act there is no government contribution. Enrollees are responsible for paying 100% of the cost.
- What is the benefit of purchasing this insurance if the government doesn't contribute toward the cost of premiums?
- At some point in your life, you may need long term care. Because traditional health plans do not typically cover this type of care, and because
long term care is expensive, it is important to have a plan in place. The benefit of including the FLTCIP in your planning is that you are taking an important step toward
protecting yourself against the high costs of care in the event that you do need it.
This program is tailored to the specific needs of the Federal family. It is regulated by the U.S. Office of Personnel Management, which ensures that FLTCIP benefits remain
up-to-date and competitive. You can also feel confident that the OPM-selected Long Term Care Partners and John Hancock Life & Health Insurance Company are among the best in
terms of customer service, financial strength, and stability.
- I am retiring and am already enrolled in the FLTCIP. Will my premiums increase because I'm retiring?
- No. Premiums do not increase just because you're retiring or due to any other change in work status. For more information about how to make
your premium payments when retiring, please see the Paying for Coverage FAQs.
Please note that premiums are not guaranteed. Your premium will not change because you get older or your health changes or for any other reason related solely to you.
Premiums may only increase if you are among a group of enrollees whose premium is determined to be inadequate. While the group policy is in effect, the U.S. Office of Personnel Management (OPM) must approve the change.
- I've found other policies in the private sector that are cheaper than yours. I thought the FLTCIP's premiums are supposed to be less expensive?
- It is extremely difficult to accurately compare the cost of two different plans. Even if they look similar in most respects, we have found
that there are usually numerous differences between competing plans that can significantly affect their cost. Make sure that you are comparing the exact same benefits.
For instance, we know that some people have compared our rates for automatic compound inflation with rates for automatic compound inflation offered at 3%. The FLTCIP offers
the increase at 5% or 4%. Of course a plan with a 3% increase will be less expensive. That is not a comparable benefit.
It is true that for some people, rates in the individual insurance marketplace can be reduced by spousal and preferred health discounts. The FLTCIP chose not to target
discounts to select groups. Rather, our aim was to offer rates that are appropriate for all who qualify under the underwriting standards.
Federal family members can apply for coverage anytime—you do not have to wait for the next open season. Premiums are based on your age and the premium rates in effect at the time we receive your application—the younger you are when you apply, the lower your premium will be.