LTC Program is designed to protect you nowand well into the future.
The Long Term Care Program offered to PERA members and retirees gives
you options that enable you to customize your long term care protection
in a variety of ways. Consider these standard features that place all
of the decisions in your hands:
selecting the benefits you want, please note that the Nursing Home Benefit
you choose determines the maximum daily benefit amount available to you
for other benefits (e.g., Assisted Living Facility, Home Health Care,
etc. and your Lifetime Maximum Benefit).
is a brief description of benefits available. The information provided
is intended only to assist in the selection of benefits. Final determination
of benefits and exact terms and conditions are contained in the policies
issued by the insurance company.
best benefits in the world are of little value if they can't be accessed.
The Long Term Care Program for PERA members and retirees was designed
to make it even easier for you to access benefits when you need them:
needs a break once in a while. Your respite care benefit provides temporary
relief from caregiving duties for a family member, or another person who
is the unpaid primary caregiver. This "time-off" helps your caregiver
maintain his/her health and mental well being.
you have met your elimination period requirement (60 or 90 days), premiums
are waived on the first day you receive benefits in a Nursing Home, Assisted
Living Facility or for Hospice benefits. Premiums are waived on the 91st
day of receiving benefits for Home Health Care or Adult Day Care. Premiums
will continue to be waived as long as you are receiving care. After all,
when you are receiving long term care services, the last thing you want
to worry about is insurance bills.
expenses (up to five times the maximum daily benefit) for training a family
member that does not live with you to provide you with care in your home.
your bed in the facility for up to thirty (30) days if you become hospitalized
during your stay.
consider the value of these optional features:
need to protect your money over time, and inflation protection ensures
that your investment keeps pace with the economy for the lifetime
of your policy. Inflation protection increases your Maximum Daily
Benefit by 5%, compounded every year on the anniversary of the date
you purchased the inflation protection, for the lifetime of your
policy. The Maximum Lifetime Benefit also increases proportionally.
The annual increases will continue to be made even if you are receiving
benefits under the policy.
a little extra financial protection to your loved ones by purchasing
Refund of Premium, which returns a portion of your premiums to your
estate if you die before you use all of your benefits.
enables you to keep a portion of the benefits if your policy lapses
after having been in force for at least three years. In effect, you
get back in benefits what you paid in to the policy.
Benefit Transfer helps protect the financial and emotional well being
of you and your spouse because it enables married couples who buy
similar coverage to combine their Maximum Lifetime Benefit. That way,
when you or your spouse need to access benefits you have the strength
of combined coverage backing you - and that strength gives you even
more protection when the need for long term care arises. In the event
of your death, your surviving spouse's Maximum Lifetime Benefit will
be increased by any unused benefits from your policy.
the event of your death, your spouse will be protected by the benefits
of Survivorship, which enables him/her to continue the policy for
the rest of his/her life and waives all renewal premiums. You and
your spouse's policies must be in force for ten consecutive years
to access this benefit.
you access some or all of your benefits and then do not receive or
require care/assistance for a period of 180 consecutive days, you
don't have to worry about decreased benefit amounts if you require
care some time in the future. With Restoration of Benefits, the Maximum
Lifetime Benefit is restored to its original maximum after 180 consecutive
days of not receiving care or assistance. There is no limit to the
number of times benefits may be restored.
This Program Works!
long term care offers a flexible benefit account which acts as a pool
of money and may be allocated for care at home or in a facility. As
you utilize benefits, money is deducted from your pool.
Maximum Benefit Periods
Daily Benefit Amounts
to Calculate Your Benefit Amount
Choose Lifetime Maximum Benefit Period:
Choose Daily Benefit Amount:
Calculate Benefit Pool:
Total Benefit Pool
5 Years (1825 Days)
1825 Days x $130