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How It Works

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 the community or 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 will pay benefits for services you receive at home, in an assisted living facility and in a nursing home in the event you need such care. Benefits are payable according to the level and duration of benefits purchased.

What are the advantages of this program vs. purchasing long-term care on my own?

  • Members in the ELCA benefit program and their eligible family members who are approved receive a 5% discount on premiums for long-term care insurance. Approved married members receive a 10% discount or a 20% discount if their spouse applies and is approved.

Who is LTC Financial Partners?

  • LTC Financial Partners (LTCFP) is a company that specializes in helping individuals understand the financial risks associated with the need for long-term care. They work with clients and a variety of long-term care insurance companies to find suitable insurance options. They work with many faith-based organizations, so they understand the needs of ELCA plan members. Portico has contracted with LTCFP as a resource for plan members who want to apply for long-term care insurance from Transamerica.

When can I sign up for long-term care insurance through LTCFP?

  • Retired members can sign up for the program at any time. It's a big decision, so you may want to talk to family members first to see if long-term care is the right option for you.

    Next Steps:

    1. Learn More —Watch for communications in the next few weeks from LTCFP on long-term care insurance, including how to contact them for a consultation.

    2. Assess Your Need — Speak with family members to determine if long-term care is the right option for you. You can also speak with an Ernst & Young financial planner about long-term care insurance, at no out-of-pocket cost to you. Call the EY Financial Planner Line® at 888.566.8631

    3. Enroll Any Time — Contact LTCFP directly at XXX.XXX.XXXX.

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

4 Reasons WhyLong-Term Care Insurance
Can Help You:

  • Can protect your home, savings, and family assets
  • Lets you choose where and by whom you receive care
  • Helps you maintain your independence and avoid being a burden to your children
  • Provides peace of mind knowing you're covered

(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