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Many of our employees have expressed interest in L-3 Communications making a plan available that will help with nursing home and other health care expenses. We are pleased to announce that we will be offering the opportunity for employees and their eligible family members to enroll for Long Term Care (LTC) insurance. The LTC program will be insured by MetLife and be administered by Marsh @WorkSolutions.
Long Term Care insurance covers the expense (subject to policy provisions and limits) of caring for someone either at home or in a nursing home, who cannot care for themselves, but does not need acute hospital care. You will be able to choose among a variety of program options to meet your personal needs, while keeping within your budget.
Spouses, adult children, parents and parents-in-law will also be eligible to apply for the program. (Payroll deduction is only available to employees who elect coverage for themselves and/or their spouse. All other enrollees will be billed directly).
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The enrollment period will be from September 15, 2003 through October 15, 2003. Plan participation, coverage and premium payments will begin on January 1, 2004. During this initial enrollment period only, employees who are actively-at-work will be guaranteed acceptance for Long-Term Care coverage. Only employees will have guaranteed issue, all other enrollees (including spouses of employees) will need to provide confirmation of good health, and have their applications approved. Those applications that need approval will have an effective date that will be determined by MetLifes Underwriting Department. More information regarding the enrollment process, plan design and rates will be distributed later this summer as the enrollment period approaches.
Employees who do not enroll during the special enrollment, and other eligible participants, will still be able to elect LTC, subject to evidence of good health. If the application is approved, the effective date of the coverage will be determined by MetLife's Underwriting Department.
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