Who is Affected by FLTCIP Premium Increases, What They Can Do

The FLTCIP premium increases apply to all current enrollees except: those who were at least age 80 when they enrolled; those who have enrolled since last August; those who are currently drawing benefits; and those who have only the “alternative insurance plan” which offers only nursing home coverage for only two years and has a longer waiting period and higher premiums than full coverage under the FLTCIP. Those not falling under one of those exceptions—all but about 4 percent of the nearly 300,000 enrollees–will be given the choice of: keeping their benefits the same, subject to the higher premiums starting in November; reducing their benefits (such as lowering the daily benefit amount) to keep premiums about the same; or choosing a mix of a lesser reduction in benefits and a lesser increase in premiums (or, for those eligible, invoking a “paid-up” provision; see following story). There will be no underwriting required for those changes. If an enrollee makes no election by September 30, by default the benefits package will stay the same and the higher premiums will take effect. Those who make an election but change their minds can submit another election, up to the deadline. Also, FLTCIP enrollees may cancel coverage at any time.