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Long term care planning for federal employees in Washington, DC

The fact is that women are still living longer than men and make up the majority of nursing home residents. A little over three-quarters of those in assisted living facilities are women and two-thirds of patients receiving care in their homes are women. With statistics like these, long term care planning may need to be a priority for women in Washington, DC that either work for or are retired from the federal government.


With today's economy being what it is, the likelihood of being able to pay cash for long term care is unlikely. There is a program for retired and current federal employees called the Federal Long Term Care Insurance Program (FLTCIP) that could be useful since many insurance plans, including Medicare, may not cover certain expenses associated with long term care. Other federal insurance plans that may not provide for long term care include TRICARE and TRICARE for Life, which are Defense Department programs and even the Federal Employees Health Benefits Program.


Back in the year 2000, Congress passed an act establishing the FLTCIP. The program is under the purview of the U.S. Office of Personnel Management and is designed to meet the needs of federal employees -- both lifestyle and budgetary. There are four programs for employees to choose from that are decidedly affordable.


A good portion of women working in the Washington, DC area are federal employees. As such, they should be familiar with FLTCIP and its benefits for long term care planning. However, a program like this is only the beginning. No program is going to cover 100 percent of the expenses and costs associated with growing old in our country today. A comprehensive review of an individual's financial situation and proper planning can help fill in any gaps and give everyone in the family peace of mind.


Source: kcrg.com, "What Every Woman Should Know About Long-Term Care," June 6, 2013

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