Long-term care expenses now range from about $10,000 to $80,000 a year, depending upon the type of care and where it is is received. These services are generally not covered by health or disability insurance. As a result, more and more people are choosing long-term care coverage to protect their assets and retirement savings from such potentially catastrophic costs. Jefferson now offers a voluntary long-term care insurance program called “Teachers SelectCare,” available through TIAA-CREF. Jeffersonians who select long-term care insurance, will be able to pay for it through payroll deduction at a 5 percent discounted rate, although the contract is between you and TIAA-CREF.

What is long-term care?
Long-term care refers to a broad range of supportive medical, personal, custodial, rehabilitative, and social services designed to meet the basic daily living needs of those who are chronically ill or disabled for a relatively long period of time. Long-term care provides assistance in carrying out the ordinary activities we do on a daily basis, such as bathing, dressing and eating. Long-term care could range from minimal help, such as cooking or shopping, to more intensive rehabilitation. It may even include continuous supervision for people with Alzheimer’s disease. Long-term care is available in nursing homes. But individuals receiving care at home or in a small community setting currently outnumber those receiving institutional care by greater than 4 to 1.

What kind of coverage is available for long-term care?
Unfortunately, when physical, personal or custodial care is needed, it is usually not covered by most individual or group health disability insurance plans. Federal programs aren’t necessarily the answer either. Medicare may pay for certain types of care in limited situations and only when strict criteria have been met. And Medicaid will provide coverage only to those with low income and few assets, or those who have “spent down” their personal savings and assets while paying for care.

TIAA-CREF Program Features
Designed to complement your pension, disablility and other benefit programs, this comprehensive long-term care policy provides flexible coverage that helps to pay for care received at home and in the community, as well as in a nursing home. This program is also available to your spouse, parents and parents-in law. Your coverage can be paid through payroll deduction or you can be billed directly at home. The coverage is fully portable at the same premium, should you decide to change jobs or retire.

The plan, underwritten by TIAA-CREF, qualifies for Federal tax treatment that was established by the Health Insurance Portability and Accountability Act of 1996. This means that premiums paid for this insurance will be treated as medical expenses and will be eligible for medical expense deduction on your federal income tax.* Any benefits received from this long-term care policy generally will not be subject to federal income tax.

Additional information was recently sent to all employees in a mailing from TIAA-CREF. Group meetings are scheduled to take place in February. For more information on long-term care insurance, or to receive an information package, contact the Benefits Office or call TIAA-CREF directly at 1-800-223-1200, from 8 a.m. to 8 p.m. ET.

An additional resource available to Jefferson employees at no cost is through Carebridge Corporation. Carebridge provides assistance to employees in various areas of concern including eldercare assistance. Carebridge can provide consultation and resources for such concerns as homecare entitlements, nursing homes, elder housing options, medigap and long-term care insurance, independent living, caregiver support, etc. For more information, contact Carebridge at 1-800-437-0911.

*Premiums paid for long-term care insurance for you, your spouse and/or dependents may be deductible. In order to qualify for the tax deduction, your eligible medical expenses must exceed

7.5 percent of your adjusted gross income. In addition, the amount of the premium that may be deducted is limited based on the age of the insured.

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