Long Term Care planning for active military, veterans, retirees and family

Turning sixty-two this year is not all that worrisome for me. Of course, in the middle of the second wave of the COVID pandemic, the potential long-term impact to ones health of contracting COVID at this stage of life is probable reason for concern. Though I had considered enrolling at a much younger age, with insurance premiums much lower the younger one enrolls, the invincibility of youth encouraged me to put it off. In the last quarter of 2020, I thought it prudent to begin the enrollment with a commercial insurer, accompanied by physical exam, several telephone interviews and waiting for term and premium calculations. The cost of commercial insurance seemed exorbitant, so my wife and I decided against it. Then I learned that LI (insurance) was available to retired military. Planning for a Veterans Administration facility as a fallback was my last consideration, should I subsequently require reevaluation of a presently non-compensable service-connected disability. After a military career, a professional career, and self-employed business owner today, we should plan for any potential health situations in our “golden years”.

Federal Long-Term Care Insurance Program (FLTCIP)

While most married service members have enrolled in federal benefits under TriCare, and include dental and vision program benefits when selected, Long Term Care insurance is not included in the annual Federal Benefits Open Season. However, FLTCIP is available to Federal workers, Postal Service employees, and military members. Eligibility for this program is linked to eligibility for Federal Employees Group Life Insurance (FEGLI). The link to the FEGLI handbook is here. The key point to note, is that eligibility for FEGLI does not require a person seeking FLTCIP to be enrolled in the FEGLI.

Open Season, physical exams, and Qualifying Life Events do not apply

For those who may be familiar with Tricare Open Season, which runs from November to early December of each year, FEGLI also has a banner regarding Open Season. The Office of Personnel Management, OPM, “Outside of an open season, eligible employees can enroll or increase their FEGLI coverage by taking a physical exam or with a Qualifying Life Event,” However, no such open season limitation exists to enroll in the Long Term Care insurance. Details as to eligibility are found here. To access more information, and to begin enrollment, the link is here.

Most of this information comes from a website, https://militarybenefits.info, opm.gov and the FLTCIP program webpage.

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