MetLife has informed CMS that they have decided to discontinue the sale of Long-Term Care (LTC) insurance products (includes Employer Group and Individual - including Multi-Life).
Effective July 1, 2011, LTC will no longer be offered. Individuals who are currently enrolled in the LTC program will continue to have coverage as long as premiums continue to be paid. MetLifeï¿½s LTC coverage is guaranteed renewable. This means that as long as premiums are paid on time, coverage cannot be cancelled, although premiums for coverage can be raised on a class basis.
Information/enrollment kits may be obtained by calling MetLife until May 31, 2011. New enrollments must be submitted to MetLife by June 29, 2011.
The FAQï¿½s below may help answer any questions you may have. You may also contact MetLife directly at (800) 438-6388 to speak with a Customer Service Consultant.
Long-Term Care Coverage FAQï¿½s
Q. I am currently enrolled in the plan. What will happen to my coverage?
A. MetLifeï¿½s LTC coverage is guaranteed renewable. This means that as long as your premiums are paid on time, coverage cannot be cancelled, although premiums for that coverage can be raised on a class basis.
Q. Can I still make coverage changes?
A. Yes. You can continue to make coverage changes per the terms and provisions of your certificate of insurance. This includes inflation offers, coverage increases and coverage decreases.
Q. I currently pay my premiums through payroll deduction. Will that continue?
A. Yes. MetLife has agreed to allow premiums to be paid through payroll deduction even after the LTC plan is closed.
Q. How soon will our group be closed to new entrants?
A. Information/enrollment kits may be obtained by calling MetLife until May 31, 2011. New enrollments must be submitted to MetLife by June 29, 2011.
Q. I thought MetLife was committed to the LTC industry?
A. MetLife is one of the largest LTC carriers. They remain committed to their existing LTC insured and will ensure that they continue to receive a high level of service, especially at the time of a claim.
Q. Are MetLifeï¿½s financial strength and claimsï¿½ rating still strong?
A. Absolutely. MetLife continues to receive high ratings for financial strength and claims-paying ability from the major rating agencies. You can obtain the latest ratings by visiting http://investor.metlife.com, and clicking ï¿½Financial Information,ï¿½ and then clicking 'Ratings'.
Q. Who can I contact for more information?
A. For questions related to our group plan, you may contact MetLife at (800) 438-6388 to speak with a Customer Service Consultant.