Federal Long Term Care Insurance Program

The federal government has recently enacted legislation that would allow all federal employees to purchase long term care insurance. The program will be administered through john Hancock and Met Life and is know as the Federal Long Term Care Insurance Program (FLTCIP)

This program is available to almost 20 million people from active and retired government employees and postal workers. This may prove quite attractive for many as the policies will be less expensive than traditional policies sold to individuals. There are two reasons for this. One is that although it is not technically a “group product” it will have many of the same characteristics.

You have to be in the group to purchase it, there was some competitive bidding among carriers to gain the business and the benefits are not quite as extensive as through a regular individual policy.