TRS is pleased to announce an important benefit, Group Long Term Care Insurance, Genworth Life Insurance Company as the insurer for the benefit based on its history of leadership and experience in the long care insurance industry.
Long term care insurance is an essential part of any sound financial plan. It covers expenses for long term care whether received at home, in the community or a in a nursing facility. It can help you:
Long term care insurance complements your other benefit offerings by meeting a need many of us may have someday. Seven in ten of us may need long term care services after we reach age 65 and neither health nor disability insurance are designed to cover these expenses. Relying on government programs may not be a viable solution either.
Is it right for you?
Who is eligible for this plan?
To be eligible, the person must maintain a permanent
When can I enroll?
Employees are eligible guaranteed coverage or streamlined underwriting ONLY during their initial enrollment period.
Spouses have streamlined underwriting ONLY during their initial enrollment period.
If you postpone the decision to buy, you may not qualify due to future health issues.
Premiums increase with age so the longer you wait to buy, the higher your premiums will be.
How are premiums paid?
Employee and Spouse premiums can be deducted via payroll deductions. For District couples you can not elect which employee you would like to have premiums deducted from.
All other parent members will make payments directly to Genworth either quarterly or annually. You may also sign up for a draft from your checking account.