NO DECLINE IN NUMBER OF NEW APPLICATIONS DESPITE FEDERAL LONG-TERM CARE PREMIUM SPIKE - October 26, 2016
Federal Long-Term Care Premium Spike Isn't Scaring People Away
By Kellie Lunney, Government Executive
Many federal employees and retirees with long-term care insurance will see their premiums spike significantly beginning next Tuesday.
The new Federal Long-Term Care Insurance Program premium rates, announced in July, kick in on Nov.1, and amount to an average increase of 83 percent, or $111 more per month, for many enrollees who opt not to change their coverage. For those paying premiums from their retirement benefits, the first payment with the increase will be reflected in the Dec. 1 annuity payment.