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Weakley County Long-Term Care Insurance

Weakley County is pleased to announce that full-time, new hire employees have a one-time opportunity to enroll in the State of Tennessee’s group long-term care insurance plan, with no health questions.

 

The provider is Med-America Insurance Company.

Premiums will be based on an individual basis according to the options that you select. Premiums will be payroll deducted and are the full responsibility of the employee.

 

Because of the amount of information involved in this type of insurance, there is a lot to explain. If you run into confusion, you can always click here to schedule personal consultation by MedAmerica.

 

Below are long-term care frequently asked questions that include personal examples as well as other information that can help you better understand what long-term care is, if you need it, and the features andbenefits of having it.

1.     Q: Can I have one type of coverage (i.e. daily benefit amount $200) and my spouse have a different type?  

A: Yes, absolutely as well as benefit periods too.  Mix or match. 


2.      Q: Can you increase or decrease coverage after enrollment?  If yes, what happens to what you've already paid? 

A: Once you have a policy, you can decrease coverage.  For instance, if you cannot afford the premium anymore and have chosen a higher benefit amount or benefit period, we can lower the one or the other or both to see if that is more affordable.  We never want people to cancel as a first resort because usually we can help them find another way other than losing coverage altogether.  Now, if they've chosen the lowest benefits, then that can be a problem because there's "no where to go".   If they want to buy additional coverage, say add the 5% compound inflation feature, they would basically have to apply for a new policy since they must go through medical underwriting.  Also, you can only own 1 LTC-TN policy at a time, so you would just replace the old one with a new policy, if you're insurable.  Does that make sense? 



3.      Q: Can I add a dependent child when he turns 18 or do I wait for an open enrollment period? 

A: Yes, dependent children are eligible to enroll at any time with full underwriting between the ages of 18 and 26.  The key is dependent by at least 50% on their parents.    Once they turn 27, they can no longer apply but if they already own a policy, they have it forever, as long as they pay their premiums. 

 

4.  Q: Is nonforfeiture benefit available with this plan? 

A: All LTC-TN policies include a contingent nonforfeiture right at no extra charge to assist those who can no longer afford their premium after a substantial rate increase.  There are certain requirments that must be met before you can exercise this feature, so read the attached for more details as it can be complicated.  The disclosure was taken from the Enrollment Booklet and is always a part of the contract documents. 



5.  Q: If I marry after the initial enrollment, will I be able to add my new spouse and in-laws? 

A: Spouses, in-laws, dependent kids age 18-26 and retirees can apply at ANY time regardless and they must go through full underwriting.



6.  Q: If I die before using the insurance, is there an option for a beneficiary to receive any "cash value" in the policy? 

A: There is no "cash value" or return of premium with this plan if the insurance is not used.  However, the likelihood of a person using LTC insurance is high, unfortunately.