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Aug 27

Who Benefits Federal Long Term Care Insurance

Many people have shown interest in having long term care insurance (LTCI) over the past years and ever since, the only thing that prevented or held back people from applying for LTCI is the fact that it is expensive. $4,500 to $7,000 monthly is definitely not part of an average American worker’s plan of expenditure for health care so, who is federal long term care insurance for and what does it offer?

Going back to the average individuals, these citizens are, 90% of the time, part of the workforce and do not have other sources of income aside from their jobs as employees. A small part of the population may have small businesses setup but even with those types of source of income, the financial earnings are not always stable and have high and low points as well, and can be completely seasonal.

But who benefits from federal insurance? Simply put, mainly federal employees and these individuals clearly do not make a lot of money since most of their jobs are inclined with service oriented tasks and included in this work force are postal service employees who try to manage processing the transportation of the packages of other citizens and this type of job requires plenty of sacrifice.

Such hard work deserves benefits and such benefits will be given to them. Aside from the postal service, another occupation requires sacrificing personal time and having to work 30 days in a month and most of the shifts go from eight to twelve hours and schedule is also uncertain whether night or day but either way, it will ultimately take a toll in the body which would show soon these employees reach the age of seniority or retirement. No better time for them to be free from stress and claim their rewards.

So, federal long term care insurance can be utilized by federal employees but how about regular employees who are not working for the government? There are still exemptions that have been made such as being related to the employee. Being a spouse of the employee or annuitant qualifies coverage but will need verification for further approval. Aside from spouses, parents, parents-in-law, and stepparents are also covered but not for annuitants or retired members of the uniformed services.

Another qualification includes same-sex domestic partners but again, this is not applied for retired or active members of the uniformed services. From the qualifications, there is also the basic employee death benefit that can be applied for by qualified relatives. Including in the qualified relatives are adult children, at least aging eighteen years, as well as adopted or step children and they need to check for eligibility for the approved coverage.

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