Long-Term-Care Insurance

(This article appeared in the July/August 2009 issue of The American Postal Worker magazine.)

Judy Beard, Director

We appreciate our independence. However, as we age, many of us will need help performing everyday activities such as dressing, bathing, and moving from room to room. Our memory may deteriorate to the point that it impacts our ability to reason.

Should this happen, many of us will rely on family members for our long-term care. For others, though, outside help will be necessary, and the out-of-pocket expenses will prove costly.

Some retirees are under the mistaken impression that once they have reached the age of 65 and are eligible for Medicare, their long-term care needs will be paid for. In fact, Medicare covers only short-term nursing-home care, and only in Medicare-certified nursing homes. (Medicare does pay for limited skilled care at home, under stringent conditions.)

It is wise to weigh your options before you get to the point where you need long-term care.

The Policies

Long-term-care policies vary widely in the coverage they provide for care at home, in adult daycare facilities, in assisted-living facilities and in nursing homes.

Although you may view long-term-care insurance as another costly item to add to an already tight budget, you should be aware that it may be a worthwhile investment. The premiums may be lower than the price of a nursing home ($80,000 per year) or the costs of an in-home caregiver. And the younger and healthier you are when you apply, the more reasonable the price will be.

The Office of Personnel Management offers a long-term insurance program, through a partnership with Long Term Care Partners Corp. For information, visit www.ltcfeds.com or call 800-582-3337. For additional information about long-term-care insurance, visit the National Association of Insurance Commissioners or call 866-470-6242. Upon request, the NAIC will provide a summary of your state’s regulations and a list of carriers.

The APWU is monitoring Congressional measures that would make long-term care more affordable. One such bill, the Community Living Assistance Services and Supports Act (S. 697 and H.R. 1721) would establish a national voluntary insurance program that would help cover community- living expenses.

APWU Retirees Rock

While the nation was watching the election returns on Nov. 4 to learn who was going to be our new president, APWU retiree Al LaBrecque (Michigan State Retirees president) was tracking a race in which he was a candidate: His name was on the same ballot as the presidential hopefuls.

The race that LaBrecque was watching so closely was for a Trustee position in Hawes Township Alocona County, MI, in which he eventually was declared the winner: by one vote! Al will serve as a trustee for four years.

He offers this advice for retirees who want to make a difference: Attend meetings involving your local and state government, your community and your union; don’t whine or complain, but take action to make a difference; and stay in contact with your union brothers and sisters. You never know when you might need their friendship, support, or, as experience shows, that one vote.

Congratulations to Al LaBrecque, who has held many positions in APWU, and currently serves as the president of Michigan’s statewide Retiree Chapter.