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Talk to an enrollment professsional: 855-549-8911
Listen to a recorded PowerPoint meeting presentation for more information
A series of educational sessions will be offered the week of March 3 to March 7 to explain the program. You will receive an email on February 20 from LifeSecure with the meeting schedule and registration information.
See the schedule (pdf) for the list of meeting dates, times, and locations.
The University of Minnesota is pleased to announce that a new long-term care insurance program will be added to our employee benefits program. After a detailed analysis of available programs, we have selected LifeSecure Insurance Company, a wholly owned subsidiary of Blue Cross Blue Shield of Michigan, the largest BCBS organization in the United States.
The University has not had a long-term care insurance program available for new employees since March 2012, and we have had many requests for this coverage. Those employees who already have long-term care coverage from former University vendors CNA or John Hancock have the option to continue with those plans and purchase additional coverage from LifeSecure.
Long-term care insurance pays for care that you need when you cannot safely care for yourself, whether that care is received at home, in the community, or in a nursing home.
Consider these facts:
* U.S. Department of Health and Human Services: www.longtermcare.gov
** Genworth 2013 Cost of Care Survey
Long-term care insurance from LifeSecure Insurance Company is designed to protect your retirement assets. Without long-term care insurance you would have to pay for needed care out of your savings. For most of us, that would mean tapping into retirement plans, IRAs, or other savings.
Employees age 68 or under have a one-time opportunity to sign up for this new benefit with simplified underwriting. Simplified underwriting means you answer five brief questions, and the underwriting decision is made from those questions. This is a limited time offer until March 31 and will not be available at a later time with the same terms. Employees over age 68 and anyone enrolling after the initial enrollment period would be required to do full medical underwriting.