While the thought of needing long term care may be far from your mind today, circumstances can change. With people living longer, the chances of you or an aging relative requiring this type of care increases, which may bring added responsibility for you and your family. That’s why it’s a good idea to have a long-range care plan in place.
Long term care is personal care and other related services provided on an extended basis to people who need help with specific everyday activities (called activities of daily living) or who need supervision due to a severe cognitive impairment, such as Alzheimer’s disease. The need for long term care can strike at any time in life due to chronic illness, injury, disability, or the aging process. What’s more, long term care can be expensive, and is generally not covered by traditional health insurance plans or Medicare.
No matter where you are in your career, consider the prospect of needing long term care insurance coverage under the Federal Long Term Care Insurance Program (FLTCIP). With benefits designed specifically for the federal family, the FLTCIP can help protect your savings and assets in the event you or your loved ones ever need long term care. Of the 268,000 federal family members enrolled in the FLTCIP, more than 50% started their coverage before age 55.