Effective Aug. 1, 2013, Genworth will become the University’s new long-term care insurance provider. All benefits-eligible employees will have the opportunity to apply for Long-Term Care (LTC) insurance coverage through Genworth Life Insurance Company (Genworth Life) at competitive group rates, although full medical underwriting will be required. Coverage under this Program is portable, so it can move with you if you change jobs, leave the University or retire. Newly-hired employees working at least 28.13 hours per week will have the opportunity to apply with little or no medical underwriting (depending on their age) during the first 30 days after becoming benefit eligible. Through Genworth, faculty and staff will be provided the options to create a personalized plan that can make it easier to protect their savings and assets, protect their family and friends from the burden of care giving, and protect their ability to choose where care is received.
To learn more about the program, plan options, get a quote, and apply online:
Individuals who are currently enrolled in Prudential Long-Term Care insurance may continue with that provider; the terms, conditions of coverage and payment method will not change unless an election is made to do so. Their coverage is guaranteed renewable and will remain in place, as long as premiums are paid on time and benefits are not exhausted – although premiums may change in the future, subject to regulatory review.
Medicare Basics, A Guide for Families and Friends of People with Medicare
The University intends to maintain its benefit programs indefinitely. However, the University reserves the right to amend or modify any or all of the plans at any time and for any reason with respect to both current and former employees and their dependents.