Plan Ahead with Long-Term Care Insurance

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.

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Did You Know?

At least 70% of people over 65 will need long-term care services at some point."1

Long-term care services cost between $50,000 - $100,000 per year."2

40% of people receiving long-term care are working-age adults between the ages of 18-64."3

Women need long-term care services for longer (on average 3.7 years) than do men (on average 2.2 years)."4

Is Long-Term Care Insurance Right for You? It Can Help You:

  • Protect your home, savings, and family assets
  • Purchase the kind of care you want to receive
  • Maintain your independence and avoid being a burden to your family members
  • Feel more confident about the future

(1) Medicare & You, National Medicare Handbook, Centers for Medicare and Medicaid Services Revised November, 2012
(2) MetLife Mature Market Institute, 2012 Market Survey of Long-Term Care Costs.
(3) National Clearing House for Long-Term Care Information, October 2008.
(4) US Department of Health and Human Services, 2007

ACSIA Partners LLC is a licensed insurance agency that markets long-term care insurance. The long-term care insurance is issued by Transamerica Life Insurance Company (Transamerica). ACSIA Partners receives a commission on policies issued by Transamerica. The long-term care insurance offering is not a benefit sponsored by Portico, but an individual policy purchased from Transamerica. Premiums are not guaranteed to remain unchanged.  Long-term care insurance may not cover all of the costs associated with long-term care. You are advised to review your contract carefully. The contract has exclusions, limitations, reductions in benefits and terms under which the contract may be continued in force or discontinued. Contract provisions and maximum monthly benefits may vary by state. Portico Benefit Services does not guarantee the performance by Transamerica Life Insurance Company of its legal obligations.  Be sure to consult with your tax, legal, and financial advisors.