Long Term Care Insurance
This insurance is designed specifically to cover the costs associated with extended long term care due to a chronic disease or long-lasting disability. While nursing home care may be necessary, services can also be provided in adult day care centers, assisted living facilities, or at home.
When choosing a daily benefit option, keep in mind that the premium is based on that benefit option and your age at the time your coverage begins. The current rates are guaranteed through December 31, 2007.
Eligibility
Coverage is available to all benefits-eligible employees, their spouses/same-sex
partners, parents/parents-in-law, grandparents/grandparents-in-law and
retirees and their spouses/same-sex partners.
Highlights of the Plan
| Tax Qualified Status | Tax Qualified under The Health Insurance Portability and Accountability Act (HIPAA) of 1996 |
| Daily Facility Care Benefit | $100, $150, $200, $250 |
| Daily Home Based Care Benefit | 60% of the Daily Benefit Amount selected |
| Lifetime Maximum Benefit | The Lifetime Maximum Benefit is based on the Daily Facility Care Benefit you select within the plan design you choose: 3, 5 or 10 year plan. Your benefits will last the minimum number of years for the plan, but can last longer depending upon the type and frequency of the benefits paid. |
| Deductible Period | 90 calendar days. Must be met only once per lifetime. |
| Benefit Eligibility | You must be certified chronically ill by a licensed healthcare practitioner as being unable to perform at least two Activities of Daily Living for a period that is expected to last 90 days or you must be certified as requiring substantial supervision to protect you from threats to your health and safety due to a severe, cognitive impairment like Alzheimer's and Parkinson's diseases. |
| Activities of Daily Living | Two (2) of six (6) Activities of Daily Living: bathing, transferring, dressing, toileting, eating and continence. |
| Premium Waiver | After your waiting period is satisfied, you will not have to pay premiums in order to keep your coverage. Your premiums will be waived while you are receiving benefits. This means you will never have to repay those premiums. |
| Non-forfeiture Benefits | The Plan contains a standard feature to extend your insurance protection
if you stop paying premiums. After three years of continuous coverage, you can stop paying premiums but still remain eligible for your full daily benefit. The lifetime maximum would be reduced to the greater of either the sum of all premiums you paid or 30 times your Daily Nursing Care Facility Benefit. |
| Return of Premiums | All premium payments you make will be refunded to your beneficiary without interest and subject to certain restrictions in the event of your death prior to age 65. |
| Inflation Protection | Every three years, all insured participants will be able to purchase added coverage to help protect against the effects of inflation with no underwriting required. |
| Other Benefits | Respite care, hospice care, temporary bed holding, care management. |
| Portability | Coverage is portable when you terminate employment or retire from the University. |
Enrollment
New employees can enroll
without medical underwriting during the first 60 days of their hire date.
Spouse/same-sex partners are required to complete an enrollment/medical
questionnaire.
Late enrollees will need to complete a medical questionnaire and send it to CNA for approval.
Cost of coverage
The cost of this insurance is based on your age at the time coverage
begins. Premiums may change. But for premiums to change, CNA would have
to change premiums for everyone in your age category who has the kind
of coverage plan that you do. You can never be singled out for a rate
increase because you get older or become ill or because of claims you
file.
Please contact the CNA Customer Service toll free number at (866) 234-9031 if you have questions or to request an enrollment packet.