Any employee or retiree who is eligible for coverage under the Federal Long Term Care Insurance Program—and that includes the vast majority—may join it at any time. They must undergo “full” underwriting that asks for information about their health and lifestyle habits.
For those already enrolled, changes also are possible. An enrollee can decrease to anything that is available under the program, and premiums (which will be based on original age) will also decrease.
Enrollees would not have to undergo new underwriting in order to decrease coverage. However, there is no “paid-up benefit” crediting for premiums already paid for a higher level of coverage.
Also, an enrollee can drop out at any time, although there will be no refund of premiums already paid.
An enrollee at any time also can request an increase in coverage. However, the enrollee would have to provide, at his or her own expense, evidence of good health that is satisfactory the carrier. The new premium will be based on the enrollee’s age and the premium rates at the time the increase takes effect.