Long-term care insurance available for VCU employees
Dear colleagues, I am pleased to announce that long-term care insurance will once again become available to VCU employees effective December 1. Employees who did not previously enroll in long-term care coverage when it was available prior to December 31, 2016 now have another chance to take advantage of this valuable program.
Insurance program overview
Long-term care insurance covers caregiving services for both in-home and nursing home settings. These services are usually expensive, especially if used over a long period of time. The Commonwealth of Virginia (COV) Voluntary Group Long Term Care Insurance Program can help with these costs.
The Commonwealth of Virginia (COV) Voluntary Group Long Term Care Insuranceprogram is offered by the Virginia Retirement System (VRS) through its contract with Genworth. Premiums for participants will be billed directly to participants by Genworth, so that if you leave or retire from your position you may continue your coverage. Payroll deduction is not available.
Employee eligibility
The following individuals are eligible to apply for coverage whether or not they currently participate in a VRS retirement plan:
- Full-time and part-time VCU faculty and staff who work at least 20 hours per week
- Eligible family members ages 18 through 75, including:
- Spouses and surviving spouses
- Adult children
- Siblings
- Parents, parents-in-law, step parents, step parents-in-law
- Grandparents, grandparents-in-law, step grandparents, step grandparents-in-law
- Eligible retirees and their spouses (or surviving spouses) age 75 and under
Enrollment
The program will offer a special one-time open enrollment period from September 16 – October 11, 2019. During this period, eligible employees age 65 and under will have access to modified guaranteed issue coverage, which means that there will be fewer medical underwriting requirements. Going forward, new employees will be able to apply for modified guaranteed issue coverage within the first 60 days of eligible employment.
Long-form medical underwriting will be required during the open enrollment period for employees over age 65, and for all other applicants at any time. Long-form medical underwriting will also be required for employees who apply outside of the open enrollment period or after the first 60 days of eligible employment, regardless of age. Employees who enrolled in the Genworth long-term care insurance program before December 31, 2016 will continue their coverage under that program.
Information sessions
Genworth is offering two on-campus information sessions for VCU faculty and staff during the open enrollment period. Registration is required.
- Monroe Park Campus – Wednesday, September 25 at 9 a.m. in the VCU HR Training Building. Register at bit.ly/2kq3pMI.
- MCV Campus – Wednesday, September 25 at 1:30 p.m. in the Molecular Medicine Research Building. Register at bit.ly/2k2n9Ge.
For more information, review the program brochure. You may also view program details online at the Genworth website beginning September 16. If you have questions about this program, please contact VCU HR Benefits Administration at benefits@vcu.edu or (804) 827-1723.
All my best,
Cathleen C. Burke
Assistant Vice President for Human Resources
Virginia Commonwealth University