Georgia State University Alumni Association

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Long Term Care Insurance
Protect Your Assets, Your Freedom of Choice,
Your Peace of Mind.
www.aetna.com/group/commonwealthva
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LTC Defined CARE Not Cure

• Three types of long term care
• Skilled
• Custodial
• Supervisory
  
• Care provided in
• Nursing Homes
• Assisted Living Facilities
• Home or Community Care
• Average stay in a Nursing Home is 2.7 years

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The Facts About LTC

• 2 in 5 of us may need Long Term Care
• 23 of American households contain an employed
  adult who is also a caregiver
• Current out-of-pocket costs for Long Term Care
  are 35 billion
• A void in benefit coverages

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Who Is Eligible?

• Employees Spouses
• Parents
• Parents-in-law
• Retirees Spouses

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How It Works

• Pool of Money
• Reimbursement for Services Provided
• Aetna Care Management
• A dedicated unit of RNs Social Workers
• Support - Educate - Advocate
• Monitor and Manage Care Needs
• Access to Provider Discounts (10 - 30)

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How To Create Your Pool Of Money
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• Choose your Daily Benefit Amount (DBA)
• Any amount from 50 - 300 in 1 increments

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• Select a Lifetime Maximum
• 2 or 5 year plan

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• DBA x Lifetime Maximum Pool of Money
• 200 x 5 years (1,825 days) 365,000

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How Your Plan Will Pay out - Benefit Amounts
Benefit Payout depends on where you are
receiving care
Home Community-Based Care
Facility Care
expenses up to 100 of DBA

• expenses up to 50 of DBA

• Nursing Home
• Hospice Facility
• Assisted Living Facility

• Home Care
• Adult Day Care

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Plan Feature Inflation Protection
Inflation Protection Provision

• Voluntary you choose to participate
• You may purchase additional DBA every 2 years
  without proof of good health
• Choose from 1 to 5 of your current DBA,
  compounded annually

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Calculating Your Inflation Protection Premiums
Cost based on age at time of purchase
Age 40 Purchase 200 DBA/5 year plan without
Benefit Bank .109 x 200
21.80/month

• Age 42 Optional Inflation Election
  Purchase an additional 5 of 200
  .122 x 21 2.56

• Total new monthly premium
  21.80 2.56 24.36 for 221 DBA

• 365,000 Pool of Money grows to 403,325

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Home Care-Related Features

• Transitional Care
• Informal Caregiver Training
• Informal Care
• Respite Care
• Do not reduce your Pool of Money

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Optional Plan Feature
Benefit Bank Option

• LTC benefit set aside if premium payments stop
  after 3 years
• Benefit Bank the greater of premiums paid or
  one months benefit (30 Xs DBA)

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Receiving Benefits

• Benefit eligibility
• Inability to perform 2 of 6 Activities of Daily
  Living (bathing, dressing, transferring,
  toileting, continence, eating)
• Or severe cognitive impairment
• Single lifetime 90-day waiting period
• Benefits are reimbursed for services received
• Daily maximum is based on type of care received
• Restoration of Benefits
• Restores your full Pool of Money if you return to
  good health (no longer claim eligible) for 90
  consecutive days after being in claim
• Only exception If benefits have been depleted

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Value of LTC Insurance

• Ex Age 40 - 5 year plan with a 200 DBA without
  Benefit Bank
• Annual Total Premium
  Maximum
• Premium 45 Years
  Benefit
• 262 11,790
  365,000

Ex Age 50 - 5 year plan with a 200 DBA without
Benefit Bank Annual
Total Premium
Maximum Premium 35
Years Benefit 483
16,905
365,000
Interest Income from Savings Plan Savings Plan
with 4 interest compounded annually for 45
years Annual
Deposits Total Saved
Deposits for 45 years
with Interest 262
11,790
31,710
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Why Enroll Now?

• Guarantee Issue Opportunity
• Plan is Portable
• 10 Spousal Discount
• A benefit with value at all ages

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Things To Consider

• Caregiver support resources
• Cost of care in your area
• Family health history
• What you can afford
• Enrollment Choices
• Daily Benefit Amount 50 - 300
  
• Lifetime Maximum 2 yrs or 5 yrs
• Benefit Bank

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New Enrollees How To Enroll
1. Complete Enrollment Form Employees Enrollmen
t Form During Open
Enrollment only Others Medical
Questionnaire 2. Complete Personal Worksheet
Disclosure Statement Sign and date 3. Mail
Forms Directly to Aetna Special Open
Enrollment 3/14/05 - 4/8/05
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Current Insureds How To Increase Coverage

• Receive Informational Package from Aetna
• Complete Increase Form
• Mail Completed Form Directly to Aetna
• Special Open Enrollment 3/14/05 - 4/8/05

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Aetna Long Term Care Insurance Information
1-877-894-2470 or
www.aetna.com/group/commonwealthva