Federal Long Term Care Insurance Plan Rates Increase Up To 126%!

Federal Long Term Care Insurance Plan or FLTCIP increases rates up to 126%!

OPM has announced the 2016 renewal rates for existing policy holders. While a small percentage of older enrollees will receive no increase and the average increase is 83%, many enrollees will receive the maximum increase of 126%!

The enormous increase leaves many in the unfortunate position of having to reduce their benefits to maintain their current premiums or pay the new rates simply to maintain their plan.

In addition to the higher rates, all enrollees are still faced with substantial costs up front due to the 90 day elimination period. For those with a $200 daily benefit, that 90 day elimination period amounts to an $18,000 out of pocket expense or “deductible” before any plan benefits are payable.

AllFeds offers commercial plans with zero day elimination…..benefits are payable from day one whether at home, in an assisted living facility or in a full service nursing home. For those with medical concerns, we also offer a “home health care” policy to supplement your current plan. This supplement will pay home health care expenses for one year with maximum benefits exceeding $50,000. Additional plan benefits include, prescriptions, routine exams and hearing aids.

This home health care supplement is virtually guaranteed issue and is available in most states.

AllFeds also offers life insurance/LTC hybrids which may be attractive to healthy individuals. These hybrid policies allow high limits with guaranteed premiums……no 126% rate increases.

Additionally, we offer a policy with a lump sum of $500,000 which may be used for home health care, assisted living facilities or full service nursing homes.

AllFeds commercial carriers include Mutual of Omaha, Transamerica, John Hancock, Genworth and Prudential.