The GSK Long-Term Care Benefit Program
Newly hired GSK employees and their spouse/domestic partner may be eligible to apply with ‘simplified underwriting’ if you meet the eligibility criteria below:
Employees and spouses/domestic partners who do not meet the eligibility criteria for simplified underwriting may apply at any time with full medical underwriting.
*Long-term Care Insurance rates will vary by state, and coverage is not available in all states. Contact ACSIA toll free at 1-844-209-8695 for more information.
Americans are living longer—and that is the upside. The downside is anyone is more likely to need help with ordinary daily living tasks at some point. How many of us will be able to afford it?
Long-Term Care Reality Check
Which one of these statements best describes you:
If you make an incorrect assumption about your need for long-term care—or your ability to pay for it—you could be fooling yourself and live to regret it. Know the truth about four of the most common misconceptions about long-term care:
This is why an increasing number of experts agree that some form of long-term care funds is as essential to a well-thought-out family financial plan as a will.
Already enrolled? Refer to your individual policy for information. If you have questions, call 1-844-209-8695 to speak with an ACSIA specialist.
Please note: If you’re a current participant in the Prudential Long-Term Care plan, your coverage will not be affected by this new offer. Refer to your policy for information and contact Prudential at 1-800-732-0416 if you have any questions.
About Individual Long-Term Care Insurance
Individual Long-Term Care Insurance gives you the freedom to control your own future and make your own decisions. It pays for the help necessary to assist you with day-to-day living, whether it’s in a care facility or in your own home.
The important thing to remember is that with Long-Term Care Insurance, you get to make the decisions. You can feel confident that you will not have to settle for something less than what suits your unique needs.
With long-term care costs expected to surpass $150,000 a year, you could be saving tens of thousands of dollars with this protection.
Care Support Online available at no cost to you. Even if you do not apply for Long-Term Care Insurance, all GSK employees and eligible family members will have access to Care Support Online providing a wide range of assessment tools to assist you in understanding your situation and determining possible best next steps.
Full list of available tools can be found here Care Support Network
Answers about the plan, including eligibility, options, enrollment, customer service and more.
What is Long-Term Care?
Long-term care is a variety of services for people unable to care for themselves. It could be assistance in the home with day-to-day activities or special attention in a nursing home. There are a number of different settings in which long-term care services can be received.
Doesn't Medicare cover long-term care?
Long-term care expenses generally are not paid for by Medicare or Medicare supplement insurance. Medicare will cover the cost of some skilled care in approved nursing homes or in your home but only in certain conditions. Medicare's skilled nursing facility (SNF) benefit does not cover general nursing home care. The SNF benefit is a post-hospital-benefit, which only covers a relatively intensive level of skilled care furnished during a brief stay in a hospital.
What is the average cost of a nursing home stay?
The cost of a one-year stay in a nursing home ranges from $55,000 to $256,000, depending on geographic location and the type of care received.
SOURCE: Genworth Financial, “Genworth 2013 Cost of Care Survey”
I have healthcare and disability income coverage. Isn't that enough to cover long-term care services if and when I need them?
Private healthcare plans have very limited coverage for long-term care services. And disability income coverage is really meant to replace lost wages when you are unable to work. Disability income benefits are designed to cover your normal living expenses, like food and housing; it would not be enough to pay for someone to care for you.
What about Medicaid and long-term care?
Medicaid does provide benefits for long-term care, but it is only available to persons who meet the Medicaid guidelines for poverty in your state. Be aware that under Medicaid, care choices are limited because not all long-term care providers accept Medicaid payments.
Why do nursing homes offer different levels of care?
Different levels of care are offered by nursing homes because some people need round-the-clock care while others only need help with personal care. Types of nursing homes include skilled facilities that offer the highest degree of care with skilled professionals available 24 hours a day. Intermediate facilities offer less than skilled care but more than custodial care. Custodial nursing home care is for those who do not need the continuous attention of trained medical professionals.