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  Long Term Care Insurance
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Full-Time Employee Handbook
Voluntary Benefits

Ivy Tech provides employees the option of exploring Long Term Care Insurance through an arrangement with our Financial Advisor, Frank Leyes & Associates.  Long Term Care refers to a broad range of supportive services including medical, personal and social services needed by people who are unable to accomplish 2 or more activities of daily living for an extended period of time.  Long Term Care insurance provides reimbursement for these expenses; which are typically not covered under traditional health insurance or Medicare.

When an individual requests information on Long Term Care insurance, they are provided with a “Request for Proposal.”  This information gathering tool (handled with complete confidentiality) is used to make a preliminary determination if one might qualify for coverage, and which insurance company might be the best fit.  Frank Leyes & Associates uses this information to obtain quotes from several leading companies, including those participating in the Indiana Partnership Program.  The Indiana Partnership Program provides the incentive of asset protection for individuals who acquire insurance from one of the approved Partnership companies.  This benefit is available for Indiana residents only.

Out of State residents may still apply for coverage, but will not qualify for the added benefits of asset protection.  Asset protection allows individuals to preserve assets (as contrasted with the forced “spend down” required by Medicaid) in the event they exhaust the benefits of their Long Term Care policy.  Whether one receives “Total Asset Protection” or “Dollar for Dollar Asset Protection” is determined by the total amount of benefit applied for.  When proposals are requested, these limits and benefits are explained in full detail.

Long Term Care Insurance is individually underwritten and is not guaranteed issue.  The confidential process of gathering one’s medical history and current state of health is used to make each underwriting decision.

Premiums for this voluntary benefit are payable in full by the employee and are paid directly to the insurance company, not through payroll deduction.  In order to inquire about Long Term Care insurance, please contact your Human Resources Administrator for a current Request for Proposal.”

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