Good news! Loyola University Chicago is now offering voluntary Long-Term Care (LTC) Insurance from Lifesecure.
The easier application process (limited health questions) for full-time employees during an approved enrollment period. Please review the information below.
Discounted Worksite Rates
Since you are purchasing coverage through your employer, the LifeSecure rates are generally less expensive than they would be on the individual marketplace.
Eligibility
Employees can apply for coverage using a shortened application process - meaning fewer health questions. Applying for coverage through this offering is easier to get than coverage offered on the individual marketplace. Click here to view underwriting details.
Spouse Discount Available
If you and your spouse/partner both apply for coverage at the same time, a 10% premium discount will apply to each policy. Employees must apply first before completing their spouse's/partner's application.
Does my "other insurance" cover LTC expenses?
The short answer is no. Health & Disability insurance exclude LTC services while Medicare only offer minimal coverage.
Health Insurance
No coverage.
Long-Term Care was excluded from the Affordable Care Act (ACA) and does not cover expenses associated with LTC.
Disability Insurance
No coverage.
Disability insurance was not designed to cover LTC services and excludes most LTC expenses.
Medicare
Minimal coverage.
Medicare only covers up to 100 days of care after a 3-day hospital stay. According to the US Department of Health and Human Services the average LTC claim is 3 years.
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(1 minute 43 seconds)
The cost of Long-Term Care compared to your Assets & Expenses
Long-term care services can be expensive. According to the US Department of Health and Human Services, the average cost of care can range from $48,048 - $100,380 depending on the type of care you are receiving and where you are receiving that care. Long-term care planning should be a included in any responsible personal financial plan.
What are employee's top 4 sources of financial stress?
Financial stress is never a good thing, especially if you're thinking about retirement. If you are concerned about being able to afford healthcare costs in retirement or outliving your retirement savings you're not alone according to a recent MetLife study. The largest potential healthcare expense during your retirement years may be a long-term care event.
Americans realizethe importance of LTC coverage
More than half of Americans say they need long-term care coverage yet only around 1/3 have coverage. As we age, the likelihood of needing long-term care services increase. The most recent US Department of Health & Human Services data says around 70% of us will need care at some point. That's a big number! The good news is the Lifesecure LTC program offers long-term care coverage if you happen to need LTC services at any point.
LifeSecure is wholly owned subsidiary of Blue Cross Blue Shield of Michigan. BCBS of Michigan has an AM Best rating of an A (Excellent).
Ready to run a no obligation quote? Click "get started" to begin.
