Title
Resolution to Authorize the City of Hampton's Participation in the Commonwealth of Virginia’s Group Long Term Care Insurance Program
Purpose
PURPOSE/BACKGROUND:
This Resolution proposes that City Council approve the City’s participation in the Commonwealth of Virginia ("COV") Voluntary Group Long Term Care Insurance Program (the "Program"). The Virginia Retirement System ("VRS") offers employers that have not previously elected to participate in the COV Voluntary Group Long Term Care Insurance Program an opportunity to enroll in the program during the election period ending June 14, 2019. VRS administers the COV Voluntary Group Long Term Care Insurance Program, which is underwritten by Genworth Life Insurance Company.
Active full-time and part-time employees who work at least 20 hours a week and select family members (ages 18 through 75) are eligible to apply for the COV Voluntary Group Long Term Care Insurance Program. Eligible active employees under age 66 may apply for coverage with reduced medical underwriting during the special fall enrollment, from September 16th to October 11th. Family members applying for coverage will be required to undergo full medical underwriting. The Program helps employees with the cost of long-term care services, such as nursing home care or at-home care to assist with bathing, eating or other activities of daily living.
Employees pay all premiums for coverage under the Program. Therefore, there is no cost to the City to elect to participate. In addition, the City will have no administrative responsibilities for the Program's administration. Employees will directly contact Genworth Life Insurance Company for information about the Program. All premiums will be billed and collected directly by Genworth.
USI, the City’s benefits consultant, has reviewed the Program and concluded it will be a good benefit to offer to the City's workforce.
Discussion:
See Purpose/Background Above.
Impact:
Additional ...
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