There are still several factors to consider for those weighing whether to buy Federal Long Term Care Insurance Program coverage before or after retirement.


First, any delay in purchasing the coverage means paying higher premiums, since premiums are set for life at the age of purchase. For example, a $150 daily benefit amount for three years of benefits with automatic inflation protection and a 90-day waiting period before benefits begin would cost $114 a month if purchased at age 55 and $139.80 a month if purchased at age 60. In addition, during that period health conditions could arise that would make the individual ineligible for coverage.


Second, parents of active employees are eligible to enroll but parents of retirees aren