Voluntary long term care insurance coverage is offered to employees who meet the eligibility criteria below:
- Faculty – fulltime
- YSU Police – fulltime
- Administrative – fulltime and part time (.50)
- Administrative Excluded – fulltime and part time (.50)
- Classified – fulltime and part time (.50)
- Classified Excluded – fulltime and part time (.50)
Employees may elect multiple plans for other family members including: spouses, domestic partners, parents (including in-laws), grandparents (including in-laws), siblings and adult children. All eligible persons must maintain a permanent U.S. residence and have an active U.S. Social Security or tax ID number. Employees are responsible for the full premium based on the coverage selection.
Benefits You Receive
Unlike traditional health insurance, long-term care insurance is designed to cover long-term services and supports, including personal and custodial care in a variety of settings. The policy reimburses the policyholder a daily amount for services to assist them with activities of daily living such as bathing, dressing, or eating. The insurance program is flexible and provides options to meet individual needs. It is also portable and can go with you if you leave the group coverage. The three important plan elements include:
The Monthly Benefit: The maximum amount the plan will pay for covered services each month.
- Monthly benefits range from $3,000 to $7,500 per month.
The Total Coverage Maximum: The total amount the plan will pay for covered services over the lifetime of the coverage.
- Total coverage choices range from $72,000 to $450,000
The Benefit Increase Option: How your Monthly Benefit and Total Coverage Maximum can increase over time to keep up with the costs of care. Some options are available for an additional cost.
- Buy more coverage over time – member may purchase additional coverage every 3 years.
- Automatic 3% increase for life – compounded – monthly benefit and total coverage maximum increase by 3% every year.
- Automatic 5% increase for life –compounded – monthly benefit and total coverage maximum increases by 5% every year.
Use Group ID: youngstown
Access Code: groupltc
(Some employees may still carry coverage through John Hancock, our previous carrier.)