Long-Term Care Insurance

Here's what you need to know

What it does for you
Why it's important
When you can enroll

Individual Long-Term Care Insurance gives you the freedom to control your own future and make your own decisions. It pays for the help necessary to assist you with day-to-day living, whether it’s in a care facility or in your own home.

KEY FEATURES

Paid-for Care
Choose Your Benefits
Coverage for Life
Inflation Protection
Return of Premium

Care Support Online available at no cost to you. Even if you do not apply for Long-Term Care Insurance, all GSK employees and eligible family members will have access to Care Support Online providing a wide range of assessment tools to assist you in understanding your situation and determining possible best next steps.

Free care advocacy to those in caregiving crisis
Free care resources to those seeking caregiving and planning information
Free care planning to those preparing for their future care needs

Full list of available tools can be found here Care Support Network https://gsk.ltcoptions.com/ltc-resources/care-support-network/

The important thing to remember is that with Long-Term Care Insurance, you get to make the decisions. You can feel confident that you will not have to settle for something less than what suits your unique needs.

Americans are living longer—and that is the upside. The downside is anyone is more likely to need help with ordinary daily living tasks at some point. How many of us will be able to afford it?

If you make an incorrect assumption about your need for long-term care—or your ability to pay for it—you could be fooling yourself and live to regret it. Know the truth about four of the most common misconceptions about long-term care:

Long-term care is not just for older people. You can become disabled or seriously ill at any age. About 10 million people of all ages need help with basic tasks of daily life.
Medical and disability benefits simply do not cover long-term care. Your medical benefits are designed to pay for short-term conditions you are likely to recover from. Your disability insurance replaces income. This typically ends when employment ends.
Medicare and Medicaid limit what they cover. Medicare pays for home health care under certain conditions, as it must be skilled nursing or rehabilitation services following a hospital stay. To qualify for Medicaid’s poverty-line income level, you would have to surrender most of your assets.
Assisted-living care costs have mostly outpaced investment gains. The annual cost of a private nursing home room ranges from about $55,000 to $256,000, with an average of $92,000. Considering that the average nursing home stay is 2.4 years, you could need to have saved as much as $221,000.

For more information or to apply for coverage, please contact an ACSIA Enrollment Specialist at 1-844-209-8695 or fill out an online form with ACSIA to have an Enrollment Specialist contact you.

Already enrolled? Refer to your individual policy for information. If you have questions, call 1-844-209-8695 to speak with an ACSIA specialist.

Please note: If you’re a current participant in the Prudential Long-Term Care plan, your coverage will not be affected by this new offer. Refer to your policy for information and contact Prudential at 1-800-732-0416 if you have any questions.

Who is the provider?

Your employer has made arrangements with Mercer Voluntary Benefits to offer you access to a Long-Term Care Insurance Service. This service will help you review your needs and offer you options from the nation’s top providers of long-term care protection.

Who in my family is eligible for this program?
Newly hired employees and their spouse/domestic partner may be eligible to apply with ‘simplified underwriting’ if you meet this eligibility criteria:

Employee
- Age 18-64
- You submit your application within 90 days of your hire date
Spouse/Domestic Partner
- Age 18-49
- Work at least 20 hours per week as a W-2 employee
- You submit your application within 90 days of your spouse’s hire date
Employees and spouses/domestic partners who do not meet the eligibility criteria for simplified underwriting may apply at any time with full medical underwriting.

How much does this coverage cost?

Your cost is based on several factors, including your age, any special features you select, and the amount of coverage you want.

Long-term Care Insurance rates will vary by state, and coverage is not available in all states. Contact ACSIA toll free at 1-844-209-8695 for more information.

What if my employment status changes?

Good news! If you leave or retire from your current employer, you can continue your coverage without interruption (subject to applicable law and the plan’s terms and conditions). Although payroll deduction will no longer be available, you can opt for other payment methods such as direct bank account deduction, credit card billing or home billing. Higher rates may apply.

Does Medicare and Medicaid cover long-term care?

Long-term care expenses generally are not paid for by Medicare or Medicare supplement insurance. Medicare will cover the cost of some skilled care in approved nursing homes or in your home but only in certain conditions. Medicare’s skilled nursing facility (SNF) benefit does not cover general nursing home care. The SNF benefit is a post-hospital-benefit, which only covers a relatively intensive level of skilled care furnished during a brief stay in a hospital.

Medicaid does provide benefits for long-term care, but it is only available to persons who meet the Medicaid guidelines for poverty in your state. Be aware that under Medicaid, care choices are limited because not all long-term care providers accept Medicaid payments.

I have healthcare and disability income coverage. Isn’t that enough to cover long-term care services?

Private healthcare plans have very limited coverage for long-term care services. And disability income coverage is really meant to replace lost wages when you are unable to work. Disability income benefits are designed to cover your normal living expenses, like food and housing; it would not be enough to pay for someone to care for you.

Long-Term Care Insurance | Genworth

Long-Term Care Insurance

Helps keep your retirement goals and dreams intact.

Here's what you need to know

How It Works

You’re making a plan to ensure your family has solid financial footing.

You purchase Long-Term Care Insurance for yourself.

Frequently Asked Questions

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