Understanding Your LTC Options

By Scott Culver
Communications Specialist
WEA Trust

April 2005

Are you financially prepared to cover the costs for long term care (LTC) services? If not, you may want to get a clearer understanding of what LTC services are and your LTC insurance options available from the Trust.
What is LTC?

LTC refers to a broad range of services that you might need if an illness or injury left you unable to do everyday things such as eating, bathing, dressing, or getting in and out of bed. If you were in this situation, you would need LTC services.

What is the chance that I would ever need LTC?
Of people aged 65 or older, 70% will need LTC services. However, LTC needs are not exclusive to the elderly – 40% of Americans who receive LTC are working age adults between the ages of 18 to 64.

What is the cost for LTC?
The services covered by LTC are expensive. The average annual cost of nursing home care in Wisconsin, as of February 2004, is almost $58,000, and the cost of home care can easily top $20,000 a year.

Who pays for LTC?
Often, individuals and their families end up paying for LTC. Neither your health insurance nor disability insurance nor Medicare covers most LTC services.

What can the WEA Trust offer me?
The Trust offers two options: The group LTC plan and the individual LTC plan.

If you’re still working, your most cost-effective option is the Trust’s group LTC plan. This plan offers excellent coverage, and the affordable premium covers you and possibly your spouse. The group plan is a negotiated benefit, so you’ll have to let your bargaining team and local union know of your interest.

Another excellent option to consider is the Trust’s new individual LTC plan. It includes a unique benefit that allows you to accrue credit toward the paid-up feature of the WEA Trust Group Long Term Care Plan if your school district subsequently provides that plan to employees and you are eligible to enroll.

If you would like to know more about the coverage or benefits of the WEA Trust Individual Long Term Care Plan, please give us a call at 1-800-279-4010.

Posted April 1, 2005