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Since 2000, M-Pel has been providing group long term care insurance to current and former employees and their spouses in the three branches of Minnesota state government, the Minnesota State Colleges and University System, and various quasi-state agencies. To date, over 16% of eligible employees have enrolled, with the average age being 48.
FEATURES:
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Affordable – Through the power of group purchasing, coverage can cost as little as about $15 a month for a 45 year old, and $40 a month for a 62 year old once the Minnesota tax credit is included. |
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Level premiums – Cost is based on your age at enrollment and will not increase just because you get older. |
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Portable – You can take it with you! If you leave employment, you only need to change your method of payment and your cost will remain the same. |
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MINNESOTA LONG TERM CARE PARTNERSHIP
The Minnesota Long Term Care Partnership is a public/private arrangement between long-term care insurers and Minnesota's Medical Assistance Program that enables Minnesota residents who purchase certain long-term care insurance policies to have more of their assets protected if they later need the state to help pay for their long-term care. Minnesota is using this approach to give persons greater control over how they finance their long-term care and help shore up the public safety net against coming demographic pressures.
Some of the M-Pel plan options offered to State employees will qualify under the Minnesota Long Term Care Partnership. Coverage that includes the optional Lifetime Automatic Benefit Increase will be Minnesota Partnership qualified for applicants of any age.
For more information regarding the MN Long Term Care Partnership and what is required to make a plan qualify, please visit the official web site for the Minnesota Long Term Care Partnership at www.mnltcpartnership.org. |
