Long-Term Care Insurance

Commonwealth of Virginia Voluntary Group Long-Term Care Insurance Program

Most medical plans don't cover long-term care services such as nursing home care or at-home care to assist with bathing, eating or other activities of daily living. Anyone at any age may need these services, the cost of which can quickly deplete savings or retirement income. The Commonwealth of Virginia (COV) Voluntary Group Long-Term Care Insurance Program can help with these costs.

VRS has contracted with Genworth Life Insurance Co. as the insurer for the program. Participant-paid coverage provides a monthly benefit allowance for covered long-term care expenses.

General Eligibility

You are eligible to apply for coverage in the COV Voluntary Group Long-Term Care Insurance Program if you are age 18 or over and a:

  • State employee or faculty member who works at least 20 hours a week. You do not have to be a VRS member.
  • School division employee or political subdivision employee who works at least 20 hours a week, provided your employer has elected to participate in the program. You do not have to be a VRS member.
  • Deferred VRS member age 75 or under who is vested (you have at least five years of service credit).
  • Retiree age 75 or under receiving a VRS-administered benefit.
  • Retiree of a Virginia public college or university age 75 or under.

Note: If you are a deferred VRS member or retiree, your employer is not required to have elected the program. You are subject to full medical underwriting regardless of your age when you apply.

Family members may also apply for coverage if they are between the ages of 18 and 75 and undergo full medical underwriting. Eligible family members include:

  • A spouse.
  • Adult children.
  • Parents, parents-in-law and stepparents.
  • Siblings.
  • Grandparents, grandparents-in-law, step grandparents and step grandparents-in-law.

For more information, call Genworth Life toll-free at 1-866-859-6060 or visit Genworth's website.

Program Features

  • Reduced medical underwriting (proof of good health) if you are age 65 and under and apply within 60 days of employment. Full medical underwriting will be required after 60 days or if you are over age 65.
  • Full medical underwriting is required for any family members who apply, or if you are a VRS deferred member or retiree.
  • At group rates, your premiums may be more affordable. You pay premiums directly to Genworth.
  • If you leave or retire from your position, you may continue your coverage under Genworth. If you are not enrolled, you can apply as a deferred VRS member or retiree.
  • You can choose one of three benefit increase options that will allow you to increase your coverage over time to help protect against the rising cost of care.

Long-Term Care Insurance Offered Through VRTA (Virginia Retired Teachers Association)

Prince William County Public School employees, spouses, retirees, and family members are eligible to participate in long-term care insurance options offered through the VRTA Benefits Program. Your local VRTA representative agent will act as a concierge and will shop among multiple insurance carriers in order to find the appropriate solution for you and/or your family members.

According to a 2014 Genworth survey, nearly 70% of retirees will face some form of long-term care needs - and the cost is quite expensive.

Coverage Options

Traditional Long-Term Care Insurance:

  • Coverage for home care, assisted living or nursing home facility
  • You choose daily or monthly benefit amount
  • You choose length of benefit period
  • Add optional riders such as inflation protection or spousal shared benefit
  • Tax-Qualified and VA Partnership-eligible options are available with most carriers

Asset-Based Long-Term Care Insurance

  • Coverage for home care, assisted living or nursing home facility
  • Offers a life insurance policy with specified death benefit
  • Utilize death benefit to fund long-term care services, if needed during lifetime
  • Continuation of LTC benefit option available after death benefit is exhausted
  • Joint policy available for spouses
  • Single payment or continuous payment options available
  • Rates are based on age, health and underwriting approval.

Please contact your VRTA Representative for more information:

Troy Newbraugh
540-223-4328
troyn@creeksideadvisors.net

or

State VRTA Agent of Record
Jim DuBrueler Jr.
1-800-467-5425
jimd@creeksideadvisors.net

How can you learn more about VRTA?