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URL:  http://boards.fool.com/is-anyone-familiar-witheligible-for-the-federal-18868754.aspx

Subject:  Re: Long Term Care Insurance Date:  4/8/2003  10:51 AM
Author:  jtmitch Number:  8404 of 19380

Is anyone familiar with/eligible for the Federal Long-Term Care Insurance Program?

http://www.opm.gov/insure/ltc/

I recently enrolled in the program, using the money I saved by refinancing my house to pay the premium. (I am considered part of the "Federal Family" because I am retired from the Navy.) I got 3 years coverage for me and 5 for my wife at $150/day, inflation adjusted. We eat the first 90 days of coverage. It was medically underwritten (since I am retired; I believe during the initial enrollment period those in active Federal service did not require medical underwriting.

I had done some comparison shopping and this seemed like a pretty decent deal. I have the premium deducted from my pension check every month. Since my mortgage payment was also coming from there, it has basically been a wash and I don't feel the pain.

I got 3 years for me since men tend to predecease their wives; figured I'd provide a little more coverage for my wife. We could afford a fair number of years of nursing home bills on our own, but I would prefer to try to preserve an estate for my kids. I am 58; she is 56.

jtmitch
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