1 long term care insurance savings comparison presented by hsta veba trust

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Long Term Care InsuranceSavings Comparison

Presented by HSTA VEBA Trust

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Your Long Term Care (LTC) monthly premium is based

on the following:Plan Type

There are 8 different plans; you select the plan that best fits your needs. Plans have different combinations of various coverage.

Long Term Care Facility and Professional Home Care

Total Home Care or/and Simple Inflation or/and Non Forfeiture

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Plan 1

Long Term Care Facility

Professional Home Care

Plan 2

Long Term Care Facility

Professional Home Care

Total Home Care

Plan 3

Long Term Care Facility

Professional Home Care

Simple Inflation

Plan 4

Long Term Care Facility

Professional Home Care

Non Forfeiture

Base Plan

Plan Types

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Plan Types (continue)

Plan 8

Long Term Care Facility

Professional Home Care

Total Home Care

Simple Inflation

Non Forfeiture

Plan 7

Long Term Care Facility

Professional Home Care

Simple Inflation

Non Forfeiture

Plan 6

Long Term Care Facility

Professional Home Care

Total Home Care

Non Forfeiture

Plan 5

Long Term Care Facility

Professional Home Care

Total Home Care

Simple Inflation

Most Popular

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Monthly Facility Benefit Amount

There are 15 different $ increments; you select the amount that meets your needs

Your Long Term Care (LTC) monthly premium is based

on the following:

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Facility Benefit Duration

There are 3 different years

Your Long Term Care (LTC) monthly premium is based

on the following:

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Your Long Term Care (LTC) monthly premium is based

on the following:

Your current age at the time of enrollment

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LTC Calculation Example:Current Age: 29Plan: 5Monthly Facility Benefit Amount: $5,000.00Facility Benefit Duration: 3 years

Formula:

Rate for plan chosen x Facility Monthly Benefit Amount /500 = Monthly Premium

$2.30 x $5,000.00/500 = 11,500/500 =

$23.00 per month

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How much do you think that same coverage would be if you were to wait 30 years later to

apply for it?

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If you wait 30 years, that same coverage would cost you

$60.50 more per month or $726.00 more per year.

That is about a 261% increase; you would pay 4x more if you wait.

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LTC Calculation Example:• Current Age: 59

• Plan: 5

• Monthly Facility Benefit Amount: $5,000.00

• Facility Benefit Duration: 3 years

Formula:

Rate for plan chosen x Facility Monthly Benefit Amount /500 = Monthly Premium

$8.35 x $5,000.00/500 = 41,750/500 =

$83.50 per month

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Calculation ComparisonFormula: Age 29

Rate for plan chosen x Facility Monthly Benefit Amount /500 = Monthly Premium

$2.30 x $5,000.00/500 = 11,500/500 = $23.00

Formula: Age 59

Rate for plan chosen x Facility Monthly Benefit Amount /500 = Monthly Premium

$8.35 x $5,000.00/500 = 41,750/500 = $83.50

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Conclusion

If you have the extra income, you should consider LTC coverage. And if not, just sign up for the Basic Life Insurance for $1.50 per month and get the LTC Base Plan for no additional cost to you.

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Contact Information

• HSTA VEBA Trust

phone: 440-6940 or

1-800-637-4926 (toll free for outer-island members)

email: vebatrust@hawaii.rr.com

website: www.hstaveba.com