NARFE: 'Stunned and angered' at spike in federal long term care insurance
- By FederalSoup Staff
- Jul 21, 2016
The Office of Personnel Management has announced a large spike in premiums that federal employees will have to pay for long term care insurance—and one of the largest federal employees organizations has responded in anger.
“[P]remiums in the Federal Long Term Care Insurance Program (FLTCIP) will increase by an average of 83 percent, beginning November 1,” the National Association of Active and Retired Federal Employees said in a statement. “NARFE is stunned and angered at the increases and said changes must be made in the program to avoid such increases in the future”
John Hancock, which for seven years has been the sole insurance company to carry the federal program, wrote the large increases into its contract proposal—and OPM has approved them as “justified,” according to NARFE.
However, in announcing the increases, OPM has also noted that enrollees will be able to select options that will reduce the impact of the premium increase. The new options are scheduled to be mailed out to enrollees through July 27.