Insurance

The need to plan for long term care insurance is becoming increasingly important. Most people do not have the financial resources to pay for long term care and thus quickly deplete their savings when caring for an aging parent, spouse or child. Long-term care insurance is being offered to PCA employees to help them preserve their financial security and independence.

Long-term care insurance will provide PCA employees with the financial resources to care for someone who has had a debilitating illness, injury or cognitive impairment. Many people mistakenly think that health insurance or Medicaid will provide long-term care for them when needed. Traditional health insurance only pays for care that is designed to improve or correct medical problems. Additionally, many people will not be able to qualify for Medicaid long term care, because they have too much income or assets.

In an effort to assist our ministry partners in planning for retirement, PCA Retirement & Benefits, Inc. (RBI) has endorsed two long-term care insurance programs: one employer initiated, the other individually initiated.

1) Employer-based Group Long Term Care Insurance Program (Unum)

    (Note: Ten or more participants are needed at the local church)

A unique benefit of the Unum Long-Term Care Plan is that it provides guaranteed coverage for groups of 10 or more!  However, this group policy requires that the employer (a PCA church or church related organization) provide a small base level of coverage ($1,000) for all full-time employees.

Actively-at-work ministers, missionaries, and lay employees, and their spouses, sibling, children as well as parents and grandparents, are eligible to apply for long-term care insurance through Unum.

To receive a quote for your church, please fill out the Census Form linked below. Rates will be based on a church’s location, census and type of organization.

Unum Long Term Care Insurance Brochure

Unum Long Term Care Census Form

2) Individual Long Term Care Insurance Program (Long Term Care Financial Partners)

A real risk

• Think you’ll never need long-term care? Studies show that more than 60% of seniors over 65 will need some type of long-term care.
• Think your private health insurance or Medicare will cover it? Most long-term care services aren’t covered by your health insurance, and Medicare only pays for very specific, limited care. Medicaid requires you to spend down nearly all of your assets to qualify for assistance.

• Thinking of using your assets to pay for care? Be prepared: it’s expensive. One year of care in a nursing home averages over $66,000 for a semi-private room. Home health care can average $16,000 a year.
• Don’t forget the human cost. Without proper planning, loved ones taking on the role of primary caregiver can be faced with financial, emotional and physical stresses that can greatly impact their daily lives.
• Plan to be independent. Appropriate long-term care planning can mean the difference between making choices based on quality of life or based on financial necessity.

PCA Retirement & Benefits, Inc., wants to help you make informed long-term care decisions. Toward that end, LTC Financial Partners and a nationally-recognized A+ rated insurance carrier were selected to make Long-Term Care education and insurance solutions available. Eligible employees and their families may qualify for discounts and simplified health questionnaires that could make getting affordable coverage easier. Call the PCA dedicated line at (866) 471-4072 Ext. 2219.