What is long-term care?
Long-term care is the medical and/or social services term for helping people who develop disabilities or chronic care needs. For example, there may come a time when you or a loved one needs help walking, getting dressed, eating, or bathing. It also includes the kind of care you would need if you had a severe cognitive impairment such as Alzheimer's disease. Long-term care services may be brief with full recovery, or they can continue for years. Services may be provided in a person’s home, in a residential facility such as a nursing home or assisted living facility.
What does long-term care insurance provide?
A long-term care insurance policy covers skilled and/or custodial care services in a variety of settings including at home, in assisted living facilities and skilled nursing facilities. Benefits are payable according to the terms of your long-term care insurance policy.
Who is ACSIA Partners?
ACSIA Partners (formerly LTC Financial Partners) is a licensed insurance agency that specializes in helping individuals understand the financial risks associated with the need for long-term care and the role long-term care insurance plays in managing this risk. Like any other insurance agent you might work with, such as a homeowners or automobile insurance agent, ACSIA Partners specialists receive a commission on long-term care insurance policies issued by Transamerica Life Insurance Comany, the underwriter for this offering.
What are the advantages of this program?
Premium discounts. Plan members, their spouses or eligible same-gender partners, and other family members who are approved for and purchase long-term care insurance through ACSIA Partners and Transamerica are eligible for discounted premiums. The premium amount will vary depending on your age and the options you choose. If you 'd like more information, call ACSIA Partners at 877.743.7184
One-time opportunity to apply with simplified underwriting. In addition, newly-sponsored plan members ages 18-65 working 20+ hours per week for six months will have a one-time opportunity to apply for long-term care insurance on a simplified underwriting basis. Why is this important? The simplified application has fewer health questions than the full underwriting application. That means that someone who may be declined with full underwriting could be approved with simplified underwrting.
Members will have 30 days after the six-month period to apply with simplified underwriting. NOTE: Simplified underwriting does not guarantee you'll be approved by Transamerica. To see if you qualify, call ACSIA Partners at 877.743.7184
Who is eligible to apply for long-term care insurance?
Eligible plan members — including members who are not currently sponsored by an eligible employer — and the following family members can apply:
- Spouse or eligible same-gender partner
NOTE: Transamerica recognizes additional relationships such as civil union partners. For details, call ACSIA Partners.
- Children over age 18
- Parents
- Grandparents
- Siblings
- In-laws
When can members apply for long-term care insurance through ACSIA Partners?
Eligible plan members can apply for long-term care insurance at any time,
Members who are newly-sponsored must be working 20+ hours per week for six months before they qualify for the simplified underwriting process. These members will have 30 days after the six-month period to apply with simplified underwriting. For details, call ACSIA Partners at 877.743.7184.
Next Steps:
1. Assess Your Need — To learn more about long-term care and this long-term care insurance offering, schedule a free consultation with an ACSIA Partners specialist by calling 877.743.7184. To discuss how long-term care insurance fits into your financial situation call the Portico Financial Planner Line — at no out-of-pocket cost to you — at 800.922.4896.
3. Apply if you decide long-term care insurance is right for you — Plan members and their families can apply for discounted long-term care insurance at any time. Newly-sponsored members have the opportunity to apply with simplified underwriting after they've worked 20+ hours per week for six months. They have 30 days after the six-month period to apply with simplified underwriting, and can apply at anytime wth full underwriting.
Contact ACSIA Partners at 877.743.7184 with questions, and to apply.