Long Term Care Insurance (LTC)

1. Insurance Education Part #5 Long Term Care Insurance (LTC)

2. Long Term Care Insurance • Features • Available to employee, spouse, parents and parents-in-law • Medical evidence of good health required for spouse, parents and parents-in-law • To receive benefits, subscriber must be unable to perform certain activities of daily living(ADLs), varying with subscriber’s LTC plan chosen Insured by Aetna

3. Long Term Care Insurance (cont.) • Examples of ADLs • Bathing • Eating • Dressing • Transferring • Continence • Toileting Insured by Aetna

4. Long Term Care Insurance (cont.) • Benefits allowed, according to plan of choice, for in-home care, nursing home or adult daycare facility • Service Reimbursement Plan - must be unable to perform two of the six ADLs • Disability Plan - must be unable to perform three of the six ADLs Insured by Aetna

5. Long Term Care Insurance (cont.) • Benefits also for custodial care for chronic, long-lasting diseases or disabilities, including Alzheimer’s disease Insured by Aetna

6. Long Term Care Insurance • Premiums • Based on: • Age at time of purchase • Selected daily benefit amount • May continue coverage upon retirement or leaving employment Insured by Aetna

7. Long Term Care Insurance • Disability Plan • Cash benefit, regardless of expenses incurred • $50 - $250 Daily Benefit Amount (DBA) options Insured by Aetna

8. Long Term Care Insurance (cont.) • May increase coverage (“buy-up”) • Under inflation protection every two years without evidence of good health • While receiving benefits as long as subscriber has not turned down previous offer to increase coverage under inflation protection Insured by Aetna

9. Long Term Care Insurance • (cont.) • Restoration of benefits feature • Restore lifetime maximum if • Subscriber recovers (certain limitations apply) and • Has not been exhausted Insured by Aetna

10. Long Term Care Insurance • Service Reimbursement Plan • Reimbursement of expenses for defined set of covered services • $50 - $350 daily benefit amount (DBA) Insured by Aetna

11. Long Term Care Insurance • (cont.) • May increase coverage (“buy-up”) under inflation protection • Every two years without evidence of good health • While receiving benefits as long as subscriber has not turned down previous offer to increase coverage under inflation protection Insured by Aetna

12. Long Term Care Insurance • (cont.) • Restoration of benefits feature • Restore lifetime maximum if • Subscriber recovers (certain limitations apply) and • Has not been exhausted Insured by Aetna

13. Long Term Care Insurance Insured by Aetna