The Federal Long-Term Care Insurance Program (FLTCIP)
While many federal employees are concerned about being prepared for retirement, it is critical to factor in the costs associated with assisted living and long-term care
No one really wants to acknowledge that there will come a time when they will likely need this type of care, the department of Health and Human Services tells us that nearly 70% of the people turning 65 years old will need long-term care at some point in their lives.
In the year 2000, HHS reported that 10 million people were in need of long-term care. But what may be an eye opener is that 41% of that number – 4.1 Million people – were under 65 years of age. No one can predict the future, but we do caution federal employees to not presume that this benefit would only help them in the far-off future.