Congressional Hearing on Long-Term Care Premium Spike Likely After November Election
A congressional hearing on the major premium increases is tentatively scheduled for after the election, according to a House Democratic aide.
“Federal employees and retirees with long-term care insurance have until Sept. 30 to view the new premium rates – announced in July – and make changes to their coverage before the increases kick in on Nov. 1. (For those paying premiums from their retirement benefits, the first payment with the increase will be reflected in the Dec. 1 annuity payment.) The rate increase, which will affect most enrollees, will vary widely between nothing and 126 percent, depending on an enrollee’s option under the FLTCIP, according to the Office of Personnel Management.”
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