Long-Term Care (LTC) Insurance, offered by Genworth Life Insurance Company of New York (Genworth Life), can help you and your family pay some of the costs associated with long-term nursing home or home healthcare services that are not covered by traditional medical insurance or Medicare. Due to New York State insurance and licensure laws, residents of the following states only are eligible to participate in the Genworth LTC plan at this time: Alabama, Colorado, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Michigan, Nebraska, New Jersey, New Mexico, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Utah, Virginia, West Virginia and Wyoming.
LTC insurance is available to you, your spouse, your domestic partner, your parents/parents-in-law, grandparents/ grandparents-in-law and adult children. You do not need to be enrolled in LTC in order for a family member to apply for this coverage. Once you or a family member are approved for the LTC beneﬁt, coverage is guaranteed as long as the premiums are paid.
How LTC Insurance Works
LTC pays part of the daily cost of services designed to help a person perform certain activities of daily living such as bathing, eating and dressing. The covered person will receive a percentage of the daily maximum beneﬁt, depending on the type of care he or she receives.
The LTC Insurance benefit is changing for new policies effective January 1, 2018. Click here to learn more.
- Nursing home or alternative care facility – 100% of daily maximum beneﬁt
- Home healthcare or adult care services – 75% of daily maximum beneﬁt
- Informal care such as light housekeeping or shopping – 25% of daily maximum beneﬁt, up to 30-day annual maximum
You can elect a daily maximum beneﬁt of $150, $200, $250, $300 or $350.
For additional information, please view the below educational video.
Evidence of Insurability
Newly hired or newly eligible? Please consider your unique opportunity to elect LTC within 60 days of your date of hire without providing Evidence of Insurability.
You do not need to provide Evidence of Insurability if you elect LTC insurance coverage within 60 days after you become eligible and are under age 66. If you are age 66-69, you can apply with a shortened enrollment form within the first 60 days of eligibility. If you are age 70 or older, you must provide Evidence of Insurability.
Similarly, if your spouse or domestic partner enrolls within 60 days after you become eligible, he or she may complete a shortened enrollment form. Other eligible family members, and anyone who enrolls after the 60-day period, must provide Evidence of Insurability and be approved by Genworth.
Contact Genworth Life for Premium Costs and How to Enroll
The cost of LTC coverage depends on the level of coverage you choose and your age when your application is signed. The younger you are when you enroll, the lower your premium. You pay the full cost of LTC directly to Genworth. You and other eligible family members who enroll, can have Genworth Life deduct the premium payment directly from your bank account, or Genworth can bill you directly. To enroll in the LTC Insurance Plan, please coordinate directly with Genworth Life. For more information, call Genworth Life at 800-416-3624 or go to its website at www.genworth.com/columbia.
Long-Term Care Insurance Changes for 2018
Beginning January 1, 2018, the LTC Insurance program will be changing. Genworth will continue to accept new enrollments into the LTC Insurance Program; however, their new program will have increased rates and reduced overall benefits coverage.
2018 LTC Changes
(Benefit until 12/31/2017)
(Benefit beginning 1/1/2018)
|Daily maximum benefit options||$150, $200, $250, $300, $350||$100, $150, $200, $250|
|Benefit duration options||3 year, 5 year||2 year, 3 year|
|Maximum Issue Age for Eligible Family Members||Age 79||Age 75|
|Eligible Officers applying during enrollment period (60 days after eligible Officer date)|
Ages 18-65: Streamlined application process:
Ages 66+: Full underwriting
|Eligible Spouses applying during enrollment period (60 days after eligible Officer date)||Age 18-65: Short form underwriting|
Age 66+: Full underwriting
|All ages: Full underwriting|