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Congressman Seeks Hearing on Federal Long Term Care Insurance Premium Hike
November 18, 2009
Congressman Gerry Connolly (D-VA) wants to know why federal employees who
enrolled in the Federal Long-Term Care Insurance Program (FLTCIP) were led to
believe they would be protected from future premium increases if they enrolled
in the automatic compound inflation (ACI) option, but now they are facing
increases of 5 to 25 percent because OPM said inaccurate actuarial assumptions
were made.
Congressman Connolly wrote a letter to House Oversight and Government Reform
Federal Workforce Subcommittee Chairman Stephen Lynch requesting that the
subcommittee hold a hearing to investigate ways to better protect the interests
of federal employees who have been misled, either by OPM or by the John Hancock
Insurance Co., about the premiums for their Federal Long Term Care
Insurance. Connolly is a member of the subcommittee.
Connolly said that more than 144,000 federal employees enrolled in the ACI
option could face premium increases of 5 to 25 percent because of the inaccurate
actuarial assumptions and he wants to find out what happened and make sure it
doesn't happen again.
Connolly said on November 13 that the long-term care program has received
another black eye. It was reported
that the insurance company that runs the plan for federal employees and retirees
sent out erroneous letters on the plan's premiums and benefits to tens of
thousands of participants.
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