Long term care
Not to be confused with disability insurance, which pays a portion of your salary should you become disabled, long term care insurance provides additional coverage intended to complement your health care plan. Long term care insurance provides benefits for extended care resulting from long-term, chronic illnesses or injuries that Medicare or MediCal and USC's health care plans are not designed to cover. It reimburses charges for covered in-home and facility care (up to the benefit maximums you select).
These services can be extremely costly. For example, the national average cost of a nursing home private room now averages approximately $77,000 per year, and basic home health services can cost nearly $21 per hour.
You may have provided care for a parent, friend, or relative and realize the emotional and financial stress this situation can bring. Long term care insurance can help protect your financial resources and provide peace of mind to you and your family.
As of spring 2012, USC's long term care insurance program is available through Genworth Financial. (If you are a participant with the former provider, John Hancock, you can contact them directly at (888) 524-6167.)
Visit the Genworth site at www.genworth.com/groupltc using the group name USC and the access code groupltc to log in.