Why are so many people talking about long-term care and their financial plan? The reason is pretty straightforward: People are healthier than they were a few generations ago, which means they are living longer. Fewer people are dying of diseases than in the past due to advances in modern medicine, exercising more and eating better, and in general, staying healthier longer. So, it’s more important than ever for people to make sure they are set up for today’s definition of “old age.” In short, long-term care coverage needs to be part of their financial plan.
Here are 11 commonly asked questions about National Police and Firefighters Benefits Association (NPFBA) long-term care coverage, how it works, who qualifies, and a few other important topics.
1. Why is long-term care coverage so important in my financial plan?
NPFBA’s Long-Term Care coverage is extremely important when it comes to preserving your pension dollars, assets, and peace of mind. Without owning a long-term care coverage plan, a person or family could be bankrupted if the need for long-term care arises. According to statistics, 7 out of 10 people age 65 and older will need long-term care at some point in their lifetime.
2. What is included in long-term care coverage?
NPFBA Long-Term Care coverage provides for home healthcare, residential and/or assisted living care, and 24-hour skilled nursing care when you can no longer manage or live independently.
3. How do I qualify to receive long-term care benefits?
A person becomes eligible for long-term care benefits when he or she is no longer able to manage activities of daily living (ADL) and needs assistance due to the aging process or a catastrophic injury/illness.
4. What do the Activities of Daily Living consist of?
ADLs include: dressing, bathing, feeding, toileting, transferring, continence, ambulation. Impairment due to forms of cognitive impairment, such as dementia, Alzheimer’s, and brain trauma affecting ADLs would also qualify.
5. How much does long-term care cost?
NPFBA’s Long-Term Care coverage pricing is based on which plan is chosen, issue age, and the available payment term selected. There are no lifetime payments (all members must be paid in full by age 85). Applicants must apply while still in active service as a law or fire member and before the age of 61.
6. How do I apply for coverage?
The best way to apply is via the website, www.npfba.org. Just complete the application online and it will be shared via secured DocuSign to the office of the Plan Administrator. You can also request an application package by calling the Plan Administrator’s Office at 877-582-0003.
7. Can my family members also apply?
Only spouses or domestic partners may apply for coverage. All spouses/domestic partners applications will require a Paramed Exam (at no cost to the applicant) to ensure that all medical underwriting is approved.
8. When I need coverage, what is the process to open a claim?
If a claim needs to be filed, you should contact the office of the Plan Administrator, who will open a claim. A claims administrator will then discuss the features and benefits of your plan and answer any questions the applicant, or family member of the applicant, may have.
9. Can a family member be my caregiver, or will I have to hire someone?
The long-term care plan requires that a licensed care provider cares for your needs. Family members will not be eligible for reimbursement of care costs while providing care.
10. Why should I choose the NPFBA Plan over other long-term care coverage providers?
NPFBA is a non-profit, jointly sponsored mutual trust between California Law Enforcement Association and California Association of Professional Firefighters, which provides LTC coverage to active law enforcement and fire personnel in the State of California. In addition, spouses, non-safety, non-sworn, and civilian employees of agencies and departments may apply. The NPFBA Plan provides the richest benefits at the most cost-effective prices.
11. Why do I need long-term care coverage if I have medical insurance now (while I’m working) and will receive Medicare when I turn 65?
Medical insurance and Medicare do not pay for long-term care costs. Anyone receiving a pension will not ever qualify for state or federal funding for custodial care.
