SOME FEDS AND RETIREES TO SEE LONG-TERM CARE PREMIUMS INCREASE COME NOV 1 - JULY 19, 2016
Long-Term Care Insurance Premiums Will Increase An Average of 83 Percent on Nov. 1
By Kellie Lunney, Government Executive
Some federal employees and retirees with long-term care insurance could see a triple-digit increase in their new premium rates, which take effect on Nov. 1.
The rate increase, which will affect most enrollees, will vary widely between 0 percent and 126 percent, depending on an enrollee’s option under the Federal Long-Term Care Insurance Program, according to the Office of Personnel Management. The average rate increase will be 83 percent, or $111 more per month, OPM said, for enrollees who opt not to change their coverage.
From Monday through Sept. 30, federal employees and retirees with long-term care insurance will be able to view the new premium rates for the program and make changes to their coverage.