• Protect what is important
    now for a better tomorrow.

Welcome to the Learning Center

You likely do everyday activities like shopping or working around the house without much thought, but life doesn’t always go as expected. What would happen if you needed a hand? Planning today for a long term care event may help you enjoy your retirement knowing you have a measure of financial protection. The Learning Center can help answer your questions and give personalized solutions to plan for the future you deserve.

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Want to learn more?
We’re here to help.

Learn more and enroll in the new Long Term Care Insurance benefit , attend an onsite meeting or group webinar. These meetings will be hosted by a licensed Long Term Care insurance professional and available to you and your family.

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Find a plan that fits your budget.

Learn about your exclusive offer and select the coverage that fits your budget, your needs, and protects your family and future. Review a frequently selected plan based on your age, income and marital status. Compare sample plans side by side or design your own.

Get a Quote

Enrollment Ends: November 1, 2018

DID YOU KNOW?

Sixty-two percent of caregivers are between the ages of 25-54.

DID YOU KNOW?

Fifty-two percent of caregivers are the adult children of the recipients.

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Still have questions? We have answers.

Below you will find answers to some of the most common Long Term Care Insurance questions.

7am-5pm Pacific, Monday-Friday.

The call center is staffed with an answering service that will be able to connect you with the right person.  Due to the high volume of calls the LTC Specialist may not be immediately available but will return your call as quickly as possible - most times within the hour.

This plan is available to your extended family and anyone you have a familial relationship with (age 18 - 79).  They all get to enjoy the gender neutral rates and discounts as Employees.  The following are eligible family members:

  • Parents, Parents-in law, Step parents
  • Grandparents, Grandparents-in-law
  • Adult Children/Stepchildren
  • Siblings
  • Aunts/Uncles
  • Cousins

It is important to know ONLY Employees are eligible for Simplified Underwriting and all spouses and family members must complete additional health underwriting.

Transamerica is one of the nation’s largest insurance companies and is offering employees, their spouse/domestic partners, and family members this exclusive offer.  Their product provides a number of innovative features such as:

  • Cash Benefit - Once your claim is approved, you can choose to receive up to 1/3 your monthly benefit in cash to use however you need.
  • Tailored Benefit Increase Option – This optional benefit increases your benefits over time to help keep up with the rising cost of care at one fixed cost.
  • Double Accident Benefit – This automatically doubles your monthly and total benefit maximums in the event you need care as the result of an accident.
  • Return of Premium to Age 67 – If you suddenly pass away before age 67, all the money you paid into the LTC policy will be paid to a beneficiary less claims received.

Click Here to review the Transamerica TransCare II Policy Brochure.

Most people understand life insurance. You buy a set amount; say $250,000, and when you die that money is paid to whomever you chose – the beneficiary.  Long term care is similar in that you choose the total amount, say $100,000, and it pays when you need help with everyday activities.  Instead of paying $100,000 at once, it pays over time up to the monthly benefit you choose.

Long term care insurance has 2 critical components: Monthly Benefit and Benefit Pool.

  • Monthly Benefit: The maximum amount of money paid monthly to cover the cost of care.  If the cost of care is less than your monthly benefit then that money stays in your benefit pool to be used in the future.  If the cost is more than your monthly benefit, you or your family will need to cover the difference.
  • Benefit Pool: The maximum amount of money your policy will pay out. Your benefits will continue as long there is money left in the benefit pool.

The national average cost of care varies by the type of care you are looking at. For example, the national average cost of care for home health care is $54,912 a year; while around the clock care in a nursing home averages $105,850 a year.1

The costs vary significantly based on what state and region you live in.  The cost of care for a nursing home in Oregon is around $107,310 a year, while the cost in New York is over 26% more at about $135,963 a year.

The top three locations to receive long term care are in your own home (home health care), in an assisted living facility, or in a nursing home. Additional options may be available in your area such as respite care and adult day care centers.

How or where you or a loved one receives care can vary in cost.

Oregon
2020 Average Annual Cost of Care1

Home Health Care $52,624
Assisted Living Facility $48,780
Nursing Home $107,310

 

As you can see, home health care offers the flexibility to receive care in your home, but you may pay more for it than assisted living (depending on the level of care needed).

1 Based on 2020 Cost of Care Survey by Genworth Financial.  Home Health Aide and Private Room in a Nursing Home Care Facility.

The short answer is yes, but not easily and only in certain circumstances.

Long Term Care insurance is designed, reviewed and regulated to never require a rate increase once it is inforce.  However, the law allows insurers to request rate increases if deemed necessary.  These increases can only be on a group of people, based upon the product they purchased.  The rate increase request is reviewed by each state’s Department of Insurance who has the authority to decide if a rate increase is granted, and if so, how much increase is allowed.

Rates cannot be increased for reasons like:

  • Increasing age
  • Gender
  • Health condition(s)
  • Filing a claim
  • You individually

Insurance companies go through a process of analyzing current claims data, future claims data, interest rates, future risks and many other factors before requesting rate increases. Rate increases cannot be applied to any specific age, gender, health condition, or demographic; they are approved based on policy (product) statistics only.

Insurance companies must get approval from each state’s Department of Insurance (DOI) prior to any increase going into effect.

Carriers propose the percentage of increase they would like to implement and the state approves it ‘as is’ or requires modification.

Because of this involvement by state departments, the state where you purchased the policy determines the percent of increase that your policy could incur. Companies request rate increases for a variety of reasons. The most notable reasons are:

  • the increasing cost of long term care services
  • increasing claims (people using LTCI)
  • a low interest rate environment
  • people staying on claim for longer than expected

Rate increases are necessary to help stabilize the market. It may be tempting to cancel your policy or stop paying premiums if you receive a rate increase, but it is usually much more expensive to buy the same plan you have on the current market and at your older age.

The good news is, even if your state does approve a rate increase, you may not have to pay more to keep your policy. Some carriers allow you to lower your inflation protection, daily benefit, or benefit duration to keep your plan within your budget.

Rates are fixed at the age that you buy the policy. The only way the cost can increase is if your state approves a rate increase on all Transamerica policyholders for that product and then you can choose to accept the rate increase or lower your benefits to maintain the original cost.

By purchasing a policy through George Fox University you will save time and money!  This plan has exclusive discounts through George Fox University and for eligible employees;  Simplified Underwriting, which makes the policy much easier to qualify for. There are no requirements for medical records or exams.   Non-Employees and employees hired on or after 2/1/2021 need to complete full medical underwriting requirements.

The best time to buy any insurance is the day before you need it, but no one knows when that will be. The average age of employees that buy coverage at work is 49.  The average age of individuals that buy a policy is age 56.  The cost goes up as you age and start increasing significantly each year in your 60’s and 70’s.  Also consider your health: as we age we often develop chronic conditions and those can make you uninsurable.

70% of buyers of Long Term Care buy as a couple since it is family issue. Couples get an additional 30% discount and the policies include a feature called Shared Care.  Shared Care combines both individual’s policies into one larger pool of benefits.  For example, if a husband and wife each have a $100,000 benefit pool, together they have $200,000 of benefits that each can pull from.  So if one spouse suddenly passes away, the entire $200,000 is still available for the surviving spouse to use and the surviving spouse only pays for their own policy.

If you can no longer afford the cost of your current premium our first recommendation would be to reduce coverage rather then cancel the policy. To reduce your policy benefits, please contact Transamerica at 800.568.0692 or ltcgrouppremium@transamerica.com, they can go over plan design options for you within a more affordable price range.

If you do choose to cancel the policy, there is one simple form that we recommend sending to the carrier. To cancel your policy, contact Transamerica at 800.568.0692 or ltcgrouppremium@transamerica.com. Once the policy is cancelled, you will lose any premiums and benefits acquired up to that point. (We highly recommend not cancelling the policy).

Absolutely! This policy is 100% portable to you whether you move to another state, retire or leave your current employer.

If you stop paying premiums, because the rates have increased and are no longer affordable, your policy will lapse. Letters will be sent to you, and anyone listed on your application as a protection against lapse contact, in an attempt to keep the policy inforce. If attempts are made and premium is still not received, the policy will lapse. In some circumstances you can keep LTC benefits in the amount of premiums paid. For example, if you paid $10,000 in premiums over the life of the policy you MAY be able to keep $10,000 in LTC benefits.

The likelihood of this is small unless you buy a small policy or have a very long claim like Alzheimer’s. Once the entire Lifetime Maximum Benefits are paid the policy terminates since it has paid out.

  • Tailored Inflation: automatically adjusts the way your benefits increase over time as you enter different stages of life. Prior to age 61, benefit amounts will increase on the policy anniversary by 5% compound. Between the ages of 61-76, benefit amounts will increase by 3% compound and benefits amounts will not increase after your 76th.
  • Deferred Inflation: gives you the option to add inflation protection at a later date as long as you have not been on claim or are not currently eligible to claim. You will have the option to purchase inflation within 90 days of the first, third and fifth policy anniversary without evidence of insurability.

Read more about the inflation options in this brochure.

inflation graph

Shared Care is an optional policy benefit many couples include when they apply together and have identical benefits.  This feature combines the couple’s Benefit Pools into one large pool of money that either partner can use. Here’s an example: A couple buys a policy that provides $100,000 of total benefits to each person.  With this optional feature the insurance company combines both of their $100,000 of benefits into a combined $200,000 that both can use.  If one partner dies then the remaining $200,000 is left for the surviving partner to use.  It is a great cost effective way to leverage a couple’s policy.

  • Eligible Employees and their spouse/domestic partners and their extended family all get to enjoy the exclusive discounts through George Fox University.  Here is what is available.
    • 5% Employer Discount
    • Gender Neutral Rates (this is a significant savings for women vs gender distinct)
    • 15% discount for having a Spouse/Domestic Partner when only one is approved
    • 30% discount for having a Spouse/Domestic Partner when BOTH are approved
    • 10% Preferred Health Discount (Non Employees only who qualify through Full Health underwriting) Employees get a Standard health rating regardless of health as part of Simplified Underwriting

Yes, you can buy coverage for just your spouse or domestic partner, or buy it together as a couple. Your spouse/domestic partner will be required to go through medical underwriting, but they get the same group rates as the employee.  If you elect coverage on a spouse/domestic partner it will be billed directly.

Long Term Care policies have a Lifetime Maximum Benefit. Your benefits will last as long as there is money left on that Lifetime Maximum Benefit.  For example, if you had a Lifetime Maximum Benefit of $150,000 then your benefits will last until $150,000 in benefits have been paid as long as premiums are paid.

Unfortunately, there is not a time where the policy would be ‘paid up’.

The policy includes an automatic refund of all premiums paid minus any benefits in the event of death up to age 67. After that it works just like any other insurance where if you do not file a claim there will not be any benefits.

Good news, this benefit is already built into your policy! The Monthly Benefit Rider (MBR) makes your Home or Facility Care benefits available on a monthly basis as opposed to daily. If the cost of your care was less than your monthly benefit, that money stays in your benefit pool. If the cost is more than your monthly benefit, you or your family will need to cover the difference.

For example, if your monthly benefit was $3,000 and your care costs were $2,500 then the difference of $500 would remain in your pool of benefits. If your care cost were $3,100 for the month, then you or your family would be responsible to pay the difference of $100.

Similar to a deductible with auto insurance and an out of pocket deductible for health insurance, long term care also has a deductible (waiting period) before your policy will begin to pay reimbursements for services. Built in to this policy is a ZERO day deductible for Home Health Care services.

This is the easiest level of underwriting to pass and is only offered to eligible employees who have been employed for 180 days or more. You will need to answer 3-5 basic health questions. If you answer yes to any of the questions, please contact us, as you may not be considered for a policy.  If you answer no to the questions, most applications are approved within 2-4 weeks.

Pharmacy Screen

A report is pulled of all prescribed medications and the physicians who prescribed them to you over the past 5 years.  Some medications can be used for very different health issues.  If a medication is correlated with an uninsurable health condition, and shows up on your report, Transamerica may request additional information from the physician who prescribed it in order to understand what condition it is actually treating. If this happens, you will be notified by Transamerica.  Please call your doctor and let them know you applied for long term care insurance, and ask them to promptly reply to the request.

This is the standard level of underwriting that all spouse/domestic partners and eligible family members go through. You will be asked to give your medical history for the past 3-5 years, including any medical conditions, surgeries, and tests you have had.  This includes the contact information for all physicians and specialists you have seen and all current and past medications you have been prescribed.

Phone Interview

Once the insurance company receives your application they, or one of their vendors, will contact you to schedule a time to review your application.  This call generally lasts 15-20 minutes but can be longer depending on your age or if more information is needed.  Due to privacy requirements the caller will not have a copy of your application, so they may ask you some of the same questions you answered on the application.

Here are tips to help make the call go faster.

  1. Schedule at your earliest convenience, allow 30 minutes in case it goes longer, and plan for a time when you can give it your full attention.
  2. Have medication names and dosages, and contact information for the physicians you have seen in the last 3 years.

Medical Records

A report will be pulled of all the prescription drugs you have been prescribed currently and over the past 3 years.  Transamerica will also contact the doctors and specialists you have seen in the last 3 years to request your medical records.  To speed up the process, please call your doctors and let them know you applied for this insurance and ask that they promptly reply to the company’s requests.  Some physicians and clinics require a special authorization to be signed before they will release the records.  If this is the case the insurance company will contact you to obtain this.

Face to Face Interview

Rarely, but depending on your age or medical conditions, you may be required to complete an in-person interview with a nurse. This is usually performed at your home and lasts 40-60 minutes.  The nurse will take your height and weight, blood pressure, review medical history, and perform a standard memory test. To protect your privacy, the nurse will not have a copy of your application.  Therefore, expect to repeat some information you’ve already provided.

The approval process is normally 4-6 weeks; however, it could be longer if your doctors are slow to respond or if you have a face to face interview.

If your application is approved, you will receive the policy and a letter from Transamerica in the mail.  If you applied with your spouse/domestic partner you will not receive your policy until a decision is made on both you and your spouse’s/domestic partner’s applications.

If your application is not approved, you will receive a letter by mail explaining the insurance company’s decision and the reason they reached that decision.

Your enrollment deadline is Nov 1, 2018. The enrollment deadline is the last day for any employees, spouse/domestic partner and family members to complete and electronically sign their application for long term care insurance.  It does not mean you have to have the entire underwriting process completed.  After Nov 1, 2018, you will not be able to purchase this policy going forward.  Transamerica made a corporate decision to discontinue the sale of new LTCi policies after 6/30/2021.

The policy will be in your name and mailed to your home.  If/when you leave , if you are not already paying your premiums directly, you simply pay the cost directly to Transamerica.

Yes.  The application will automatically save any information that has been provided. The next time you log in, it will automatically pull up where you left off.

Yes, but only if you pay with your Health Savings Account (HSA), which is pre-taxed.

Your policy is effective the day you sign your application, assuming your policy is approved.

No. Eligible full time employees hired before 2/1/2021 have until Nov 1, 2018 to complete their application and receive Simplified Underwriting.  Transamerica made a corporate decision to discontinue the sale of new LTCi policies after 6/30/2021, so this policy will no longer be available to purchase.  Now is your only chance for you and your family members to buy the policy.

Go to the original email you received from dse_na2@docusign.net titled “Completed: - YOUR NAME”. There is a large green box, with white text towards the bottom of it that reads, “VIEW COMPLETED DOCUMENT”. This will open the application and allow you to send to a printer or save as PDF.

Most people understand life insurance. You buy a set amount; say $250,000, and when you die that money is paid to whomever you chose – the beneficiary.  Long term care is similar in that you choose the total amount, say $100,000, and it pays when you need help with everyday activities.  Instead of paying $100,000 at once, it pays over time up to the monthly benefit you choose.

Long term care insurance has 2 critical components: Monthly Benefit and Benefit Pool.

  • Monthly Benefit: The maximum amount of money paid monthly to cover the cost of care.  If the cost of care is less than your monthly benefit then that money stays in your benefit pool to be used in the future.  If the cost is more than your monthly benefit, you or your family will need to cover the difference.
  • Benefit Pool: The maximum amount of money your policy will pay out. Your benefits will continue as long there is money left in the benefit pool.

The national average cost of care varies by the type of care you are looking at. For example, the national average cost of care for home health care is $54,912 a year; while around the clock care in a nursing home averages $105,850 a year.1

The costs vary significantly based on what state and region you live in.  The cost of care for a nursing home in Oregon is around $107,310 a year, while the cost in New York is over 26% more at about $135,963 a year.

The top three locations to receive long term care are in your own home (home health care), in an assisted living facility, or in a nursing home. Additional options may be available in your area such as respite care and adult day care centers.

How or where you or a loved one receives care can vary in cost.

Oregon
2020 Average Annual Cost of Care1

Home Health Care $52,624
Assisted Living Facility $48,780
Nursing Home $107,310

 

As you can see, home health care offers the flexibility to receive care in your home, but you may pay more for it than assisted living (depending on the level of care needed).

1 Based on 2020 Cost of Care Survey by Genworth Financial.  Home Health Aide and Private Room in a Nursing Home Care Facility.

The short answer is yes, but not easily and only in certain circumstances.

Long Term Care insurance is designed, reviewed and regulated to never require a rate increase once it is inforce.  However, the law allows insurers to request rate increases if deemed necessary.  These increases can only be on a group of people, based upon the product they purchased.  The rate increase request is reviewed by each state’s Department of Insurance who has the authority to decide if a rate increase is granted, and if so, how much increase is allowed.

Rates cannot be increased for reasons like:

  • Increasing age
  • Gender
  • Health condition(s)
  • Filing a claim
  • You individually

Insurance companies go through a process of analyzing current claims data, future claims data, interest rates, future risks and many other factors before requesting rate increases. Rate increases cannot be applied to any specific age, gender, health condition, or demographic; they are approved based on policy (product) statistics only.

Insurance companies must get approval from each state’s Department of Insurance (DOI) prior to any increase going into effect.

Carriers propose the percentage of increase they would like to implement and the state approves it ‘as is’ or requires modification.

Because of this involvement by state departments, the state where you purchased the policy determines the percent of increase that your policy could incur. Companies request rate increases for a variety of reasons. The most notable reasons are:

  • the increasing cost of long term care services
  • increasing claims (people using LTCI)
  • a low interest rate environment
  • people staying on claim for longer than expected

Rate increases are necessary to help stabilize the market. It may be tempting to cancel your policy or stop paying premiums if you receive a rate increase, but it is usually much more expensive to buy the same plan you have on the current market and at your older age.

The good news is, even if your state does approve a rate increase, you may not have to pay more to keep your policy. Some carriers allow you to lower your inflation protection, daily benefit, or benefit duration to keep your plan within your budget.

Rates are fixed at the age that you buy the policy. The only way the cost can increase is if your state approves a rate increase on all Transamerica policyholders for that product and then you can choose to accept the rate increase or lower your benefits to maintain the original cost.

By purchasing a policy through George Fox University you will save time and money!  This plan has exclusive discounts through George Fox University and for eligible employees;  Simplified Underwriting, which makes the policy much easier to qualify for. There are no requirements for medical records or exams.   Non-Employees and employees hired on or after 2/1/2021 need to complete full medical underwriting requirements.

The best time to buy any insurance is the day before you need it, but no one knows when that will be. The average age of employees that buy coverage at work is 49.  The average age of individuals that buy a policy is age 56.  The cost goes up as you age and start increasing significantly each year in your 60’s and 70’s.  Also consider your health: as we age we often develop chronic conditions and those can make you uninsurable.

70% of buyers of Long Term Care buy as a couple since it is family issue. Couples get an additional 30% discount and the policies include a feature called Shared Care.  Shared Care combines both individual’s policies into one larger pool of benefits.  For example, if a husband and wife each have a $100,000 benefit pool, together they have $200,000 of benefits that each can pull from.  So if one spouse suddenly passes away, the entire $200,000 is still available for the surviving spouse to use and the surviving spouse only pays for their own policy.

If you can no longer afford the cost of your current premium our first recommendation would be to reduce coverage rather then cancel the policy. To reduce your policy benefits, please contact Transamerica at 800.568.0692 or ltcgrouppremium@transamerica.com, they can go over plan design options for you within a more affordable price range.

If you do choose to cancel the policy, there is one simple form that we recommend sending to the carrier. To cancel your policy, contact Transamerica at 800.568.0692 or ltcgrouppremium@transamerica.com. Once the policy is cancelled, you will lose any premiums and benefits acquired up to that point. (We highly recommend not cancelling the policy).

Absolutely! This policy is 100% portable to you whether you move to another state, retire or leave your current employer.

If you stop paying premiums, because the rates have increased and are no longer affordable, your policy will lapse. Letters will be sent to you, and anyone listed on your application as a protection against lapse contact, in an attempt to keep the policy inforce. If attempts are made and premium is still not received, the policy will lapse. In some circumstances you can keep LTC benefits in the amount of premiums paid. For example, if you paid $10,000 in premiums over the life of the policy you MAY be able to keep $10,000 in LTC benefits.

The likelihood of this is small unless you buy a small policy or have a very long claim like Alzheimer’s. Once the entire Lifetime Maximum Benefits are paid the policy terminates since it has paid out.

Transamerica is one of the nation’s largest insurance companies and is offering employees, their spouse/domestic partners, and family members this exclusive offer.  Their product provides a number of innovative features such as:

  • Cash Benefit - Once your claim is approved, you can choose to receive up to 1/3 your monthly benefit in cash to use however you need.
  • Tailored Benefit Increase Option – This optional benefit increases your benefits over time to help keep up with the rising cost of care at one fixed cost.
  • Double Accident Benefit – This automatically doubles your monthly and total benefit maximums in the event you need care as the result of an accident.
  • Return of Premium to Age 67 – If you suddenly pass away before age 67, all the money you paid into the LTC policy will be paid to a beneficiary less claims received.

Click Here to review the Transamerica TransCare II Policy Brochure.

  • Tailored Inflation: automatically adjusts the way your benefits increase over time as you enter different stages of life. Prior to age 61, benefit amounts will increase on the policy anniversary by 5% compound. Between the ages of 61-76, benefit amounts will increase by 3% compound and benefits amounts will not increase after your 76th.
  • Deferred Inflation: gives you the option to add inflation protection at a later date as long as you have not been on claim or are not currently eligible to claim. You will have the option to purchase inflation within 90 days of the first, third and fifth policy anniversary without evidence of insurability.

Read more about the inflation options in this brochure.

inflation graph

Shared Care is an optional policy benefit many couples include when they apply together and have identical benefits.  This feature combines the couple’s Benefit Pools into one large pool of money that either partner can use. Here’s an example: A couple buys a policy that provides $100,000 of total benefits to each person.  With this optional feature the insurance company combines both of their $100,000 of benefits into a combined $200,000 that both can use.  If one partner dies then the remaining $200,000 is left for the surviving partner to use.  It is a great cost effective way to leverage a couple’s policy.

  • Eligible Employees and their spouse/domestic partners and their extended family all get to enjoy the exclusive discounts through George Fox University.  Here is what is available.
    • 5% Employer Discount
    • Gender Neutral Rates (this is a significant savings for women vs gender distinct)
    • 15% discount for having a Spouse/Domestic Partner when only one is approved
    • 30% discount for having a Spouse/Domestic Partner when BOTH are approved
    • 10% Preferred Health Discount (Non Employees only who qualify through Full Health underwriting) Employees get a Standard health rating regardless of health as part of Simplified Underwriting

Yes, you can buy coverage for just your spouse or domestic partner, or buy it together as a couple. Your spouse/domestic partner will be required to go through medical underwriting, but they get the same group rates as the employee.  If you elect coverage on a spouse/domestic partner it will be billed directly.

Long Term Care policies have a Lifetime Maximum Benefit. Your benefits will last as long as there is money left on that Lifetime Maximum Benefit.  For example, if you had a Lifetime Maximum Benefit of $150,000 then your benefits will last until $150,000 in benefits have been paid as long as premiums are paid.

Unfortunately, there is not a time where the policy would be ‘paid up’.

The policy includes an automatic refund of all premiums paid minus any benefits in the event of death up to age 67. After that it works just like any other insurance where if you do not file a claim there will not be any benefits.

Good news, this benefit is already built into your policy! The Monthly Benefit Rider (MBR) makes your Home or Facility Care benefits available on a monthly basis as opposed to daily. If the cost of your care was less than your monthly benefit, that money stays in your benefit pool. If the cost is more than your monthly benefit, you or your family will need to cover the difference.

For example, if your monthly benefit was $3,000 and your care costs were $2,500 then the difference of $500 would remain in your pool of benefits. If your care cost were $3,100 for the month, then you or your family would be responsible to pay the difference of $100.

Similar to a deductible with auto insurance and an out of pocket deductible for health insurance, long term care also has a deductible (waiting period) before your policy will begin to pay reimbursements for services. Built in to this policy is a ZERO day deductible for Home Health Care services.

7am-5pm Pacific, Monday-Friday.

The call center is staffed with an answering service that will be able to connect you with the right person.  Due to the high volume of calls the LTC Specialist may not be immediately available but will return your call as quickly as possible - most times within the hour.

This plan is available to your extended family and anyone you have a familial relationship with (age 18 - 79).  They all get to enjoy the gender neutral rates and discounts as Employees.  The following are eligible family members:

  • Parents, Parents-in law, Step parents
  • Grandparents, Grandparents-in-law
  • Adult Children/Stepchildren
  • Siblings
  • Aunts/Uncles
  • Cousins

It is important to know ONLY Employees are eligible for Simplified Underwriting and all spouses and family members must complete additional health underwriting.

This is the easiest level of underwriting to pass and is only offered to eligible employees who have been employed for 180 days or more. You will need to answer 3-5 basic health questions. If you answer yes to any of the questions, please contact us, as you may not be considered for a policy.  If you answer no to the questions, most applications are approved within 2-4 weeks.

Pharmacy Screen

A report is pulled of all prescribed medications and the physicians who prescribed them to you over the past 5 years.  Some medications can be used for very different health issues.  If a medication is correlated with an uninsurable health condition, and shows up on your report, Transamerica may request additional information from the physician who prescribed it in order to understand what condition it is actually treating. If this happens, you will be notified by Transamerica.  Please call your doctor and let them know you applied for long term care insurance, and ask them to promptly reply to the request.

This is the standard level of underwriting that all spouse/domestic partners and eligible family members go through. You will be asked to give your medical history for the past 3-5 years, including any medical conditions, surgeries, and tests you have had.  This includes the contact information for all physicians and specialists you have seen and all current and past medications you have been prescribed.

Phone Interview

Once the insurance company receives your application they, or one of their vendors, will contact you to schedule a time to review your application.  This call generally lasts 15-20 minutes but can be longer depending on your age or if more information is needed.  Due to privacy requirements the caller will not have a copy of your application, so they may ask you some of the same questions you answered on the application.

Here are tips to help make the call go faster.

  1. Schedule at your earliest convenience, allow 30 minutes in case it goes longer, and plan for a time when you can give it your full attention.
  2. Have medication names and dosages, and contact information for the physicians you have seen in the last 3 years.

Medical Records

A report will be pulled of all the prescription drugs you have been prescribed currently and over the past 3 years.  Transamerica will also contact the doctors and specialists you have seen in the last 3 years to request your medical records.  To speed up the process, please call your doctors and let them know you applied for this insurance and ask that they promptly reply to the company’s requests.  Some physicians and clinics require a special authorization to be signed before they will release the records.  If this is the case the insurance company will contact you to obtain this.

Face to Face Interview

Rarely, but depending on your age or medical conditions, you may be required to complete an in-person interview with a nurse. This is usually performed at your home and lasts 40-60 minutes.  The nurse will take your height and weight, blood pressure, review medical history, and perform a standard memory test. To protect your privacy, the nurse will not have a copy of your application.  Therefore, expect to repeat some information you’ve already provided.

The approval process is normally 4-6 weeks; however, it could be longer if your doctors are slow to respond or if you have a face to face interview.

If your application is approved, you will receive the policy and a letter from Transamerica in the mail.  If you applied with your spouse/domestic partner you will not receive your policy until a decision is made on both you and your spouse’s/domestic partner’s applications.

If your application is not approved, you will receive a letter by mail explaining the insurance company’s decision and the reason they reached that decision.

Your enrollment deadline is Nov 1, 2018. The enrollment deadline is the last day for any employees, spouse/domestic partner and family members to complete and electronically sign their application for long term care insurance.  It does not mean you have to have the entire underwriting process completed.  After Nov 1, 2018, you will not be able to purchase this policy going forward.  Transamerica made a corporate decision to discontinue the sale of new LTCi policies after 6/30/2021.

The policy will be in your name and mailed to your home.  If/when you leave , if you are not already paying your premiums directly, you simply pay the cost directly to Transamerica.

Yes.  The application will automatically save any information that has been provided. The next time you log in, it will automatically pull up where you left off.

Yes, but only if you pay with your Health Savings Account (HSA), which is pre-taxed.

Your policy is effective the day you sign your application, assuming your policy is approved.

No. Eligible full time employees hired before 2/1/2021 have until Nov 1, 2018 to complete their application and receive Simplified Underwriting.  Transamerica made a corporate decision to discontinue the sale of new LTCi policies after 6/30/2021, so this policy will no longer be available to purchase.  Now is your only chance for you and your family members to buy the policy.

Go to the original email you received from dse_na2@docusign.net titled “Completed: - YOUR NAME”. There is a large green box, with white text towards the bottom of it that reads, “VIEW COMPLETED DOCUMENT”. This will open the application and allow you to send to a printer or save as PDF.

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