September 30 marks the close of the “enrollee decision period” in the FLTCIP long-term care insurance program. That opportunity was spurred by increases in premiums taking effect November 1 for the overwhelming majority of current enrollees, the main exception being those who enrolled in August 2015 and after. During the election period, enrollees have the choice of: reducing their benefits (such as lowering the daily benefit amount) to keep premiums about the same; choosing a mix of a lesser reduction in benefits and a lesser increase in premium; or, for those eligible, invoking a “paid-up” provision allowing them to stop paying premiums while being eligible only for a much-reduced benefit. For those who make no election by the deadline, benefits will stay the same and the higher premiums will take effect in November. Congressional hearings on the issue are expected, but likely not until after the elections; that would effectively end the already slim prospect of Congress ordering an extension of the election period, as some have requested.
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