“Notice of Federal Long Term Care Insurance Program (FLTCIP)–Suspension of Applications for FLTCIP Coverage”

“Notice of Federal Long Term Care Insurance Program (FLTCIP)–Suspension of Applications for FLTCIP Coverage,” InsuranceNewsNet

Quote:

“The U.S. Office of Personnel Management (OPM) is announcing a suspension of applications for Federal Long Term Care Insurance Program (FLTCIP) coverage. … The suspension period will begin on December 19, 2022. The suspension period will remain in effect for 24 months from the date the suspension period begins. … OPM is suspending applications for coverage in FLTCIP to allow OPM and the FLTCIP Carrier to assess the benefit offerings and establish sustainable premium rates that reasonably and equitably reflect the cost of the benefits provided, as required under 5 U.S.C. 9003(b)(2).”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Interesting. The federal government ignores the impending insolvency of Social Security and Medicare, but worries about “sustainable premium rates” for LTC insurance. Here’s hoping the FLTCIP program administrator, Long-Term Care Partners, can find a solution.