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Feds Update Voluntary Long-Term Care Insurance Program | ThinkAdvisor
The new FLTCIP coverage comes with a premium stabilization feature
Competition
Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI), said many federal employees may still be able to get cheaper coverage if they apply for ordinary individual LTCI policies, because the program limits the plan managers’ ability to underwrite new federal employees.
“If the individuals are in good health, the federal plan’s nature has healthy people subsidizing unhealthy applicants and that’s something private plans do not do,” Slome said.
The new FLTCIP coverage comes with a premium stabilization feature
Competition
Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI), said many federal employees may still be able to get cheaper coverage if they apply for ordinary individual LTCI policies, because the program limits the plan managers’ ability to underwrite new federal employees.
“If the individuals are in good health, the federal plan’s nature has healthy people subsidizing unhealthy applicants and that’s something private plans do not do,” Slome said.
