Common use of Long Term Care Clause in Contracts

Long Term Care. Enrolled prior to June 30, 2019: The Board shall cover all but one dollar ($1.00) of the annual cost of a basic long-term care program vended by Unum or such other vendor as the parties might subsequently agree to use. A. The employer paid plan shall provide the following or better coverage: Two thousand dollar ($2,000.00) monthly Skilled Facility benefit; one thousand two hundred dollar ($1,200.00) monthly Assisted Living Facility benefit; one thousand dollar ($1,000.00) monthly Professional Home Care benefit; three (3) year duration period; ninety (90) day elimination period; seventy-two thousand dollars ($72,000.00) lifetime maximum for the base plan; guaranteed issue coverage for employees who are actively at work; level premium locked in at the age coverage begins for a given employee; complete portability allowing the given employee to take the coverage with them at separation from employment for any reason with the same premium pricing then in effect; coverage guaranteed for family members at the same discounted premiums contingent on the family member’s proof of good health; and a three (3) year rate guarantee. B. Each employee will have the option to enhance the base plan with any or all of the following, provided that the given employee pays the difference in premium for their base plan via payroll deduction: a. Up to eight thousand dollars ($8,000.00) in monthly benefits, of which up to six thousand dollars ($6,000.00) comes with the guarantee issue for employees actively at work. b. Up to six (6) year benefit duration. c. Total Home Care (family and friends are paid for providing care at home). d. Five percent (5%) compound inflation protection, uncapped. C. In regard to items A. and B. above, the parties acknowledge that changing market conditions could make the specifications set forth exceed the costs for the same estimated at the time the parties agreed to add a Long-term Care (LTC) benefit to this contract. If the Board believes this to be the case, it may notify the Association President in writing that these specifications need to change to better conform to the original estimated costs. At that time, the parties would reconvene bargaining teams to revise the specifications accordingly.

Long Term Care. Enrolled prior to June 30, 2019: The Board shall cover all but one dollar ($1.00) of the annual cost of a basic long-term care program vended by Unum or such other vendor as the parties might subsequently agree to use. A. The employer paid plan shall provide the following or better coverage: Two thousand dollar ($2,000.00) monthly Skilled Facility benefit; one thousand two hundred dollar ($1,200.00) monthly Assisted Living Facility benefit; one thousand dollar ($1,000.00) monthly Professional Home Care benefit; three (3) year duration period; ninety (90) day elimination period; seventy-two thousand dollars ($72,000.00) lifetime maximum for the base plan; guaranteed issue coverage for employees who are actively at work; level premium locked in at the age coverage begins for a given employee; complete portability allowing the given employee to take the coverage with them at separation from employment for any reason with the same premium pricing then in effecteffect; coverage guaranteed for family members at the same discounted premiums contingent on the family member’s proof of good health; and a three (3) year rate guarantee. B. Each employee will have the option to enhance the base plan with any or all of the following, provided that the given employee pays the difference difference in premium for their base plan via payroll deduction: a. Up to eight thousand dollars ($8,000.00) in monthly benefits, of which up to six thousand dollars ($6,000.00) comes with the guarantee issue for employees actively at work. b. Up to six (6) year benefit duration. c. Total Home Care (family and friends are paid for providing care at home). d. Five percent (5%) compound inflation protection, uncapped. C. In regard to items A. and B. above, the parties acknowledge that changing market conditions could make the specifications set forth exceed the costs for the same estimated at the time the parties agreed to add a Long-term Care (LTC) benefit to this contract. If the Board believes this to be the case, it may notify the Association President in writing that these specifications need to change to better conform to the original estimated costs. At that time, the parties would reconvene bargaining teams to revise the specifications accordingly.

Long Term Care. Enrolled prior to June 30, 2019: The Board shall cover all but one dollar ($1.00) of the annual cost of a basic long-term care program vended by Unum or such other vendor as the parties might subsequently agree to use. A. The employer paid plan shall provide the following or better coverage: Two thousand dollar ($2,000.00) monthly Skilled Facility benefit; one thousand two hundred dollar ($1,200.00) monthly Assisted Living Facility benefit; one thousand dollar ($1,000.00) monthly Professional Home Care benefit; three (3) year duration period; ninety (90) day elimination period; seventy-two thousand dollars ($72,000.00) lifetime maximum for the base plan; guaranteed issue coverage for employees who are actively at work; level premium locked in at the age coverage begins for a given employee; complete portability allowing the given employee to take the coverage with them him/her at separation from employment for any reason with the same premium pricing then in effect; coverage guaranteed for family members at the same discounted premiums contingent on the family member’s proof of good health; and a three (3) year rate guarantee. B. Each employee will have the option to enhance the base plan with any or all of the following, provided that the given employee pays the difference in premium for their his/her base plan via payroll deduction: a. Up to eight thousand dollars ($8,000.00) in monthly benefits, of which up to six thousand dollars ($6,000.00) comes with the guarantee issue for employees actively at work. b. Up to six (6) year benefit duration. c. Total Home Care (family and friends are paid for providing care at home). d. Five percent (5%) compound inflation protection, uncapped. C. In regard to items A. and B. above, the parties acknowledge that changing market conditions could make the specifications set forth exceed the costs for the same estimated at the time the parties agreed to add a Long-term Care (LTC) benefit to this contract. If the Board believes this to be the case, it may notify the Association President in writing that these specifications need to change to better conform to the original estimated costs. At that time, the parties would reconvene bargaining teams to revise the specifications accordingly.

Long Term Care. Enrolled prior to June 30, 2019: The Board shall cover all but one dollar ($1.00) of the annual cost of a basic long-term care program vended by Unum or such other vendor as the parties might subsequently agree to use. A. The employer paid plan shall provide the following or better coverage: Two thousand dollar ($2,000.00) monthly Skilled Facility benefit; one thousand two hundred dollar ($1,200.00) monthly Assisted Living Facility benefit; one thousand dollar ($1,000.00) monthly Professional Home Care benefit; three (3) year duration period; ninety (90) day elimination period; seventy-two thousand dollars ($72,000.00) lifetime maximum for the base plan; guaranteed issue coverage for employees who are actively at work; level premium locked in at the age coverage begins for a given employee; complete portability allowing the given employee to take the coverage with them him/her at separation from employment for any reason with the same premium pricing then in effect; coverage guaranteed for family members at the same discounted premiums contingent on the family member’s proof of good health; and a three (3) year rate guarantee. B. Each employee will have the option to enhance the base plan with any or all of the following, provided that the given employee pays the difference in premium for their his/her base plan via payroll deduction: a. Up to eight thousand dollars ($8,000.00) in monthly benefits, of which up to six thousand dollars ($6,000.00) comes with the guarantee issue for employees actively at work. b. Up to six (6) year benefit duration. c. Total Home Care (family and friends are paid for providing care at home). d. Five percent (5%) compound inflation protection, uncapped. C. In regard to items A. and B. above, the parties acknowledge that changing market conditions could make the specifications set forth exceed the costs for the same estimated at the time the parties agreed to add a Long-term Care (LTC) benefit to this contract. If the Board believes this to be the case, it may notify the Association President in writing that these specifications need to change to better conform to the original estimated costs. At that time, the parties would reconvene bargaining teams to revise the specifications accordingly.