Long-Term Care Insurance


Long-Term Care Insurance	The McGraw-Hill Companies Long-Term Care (LTC) Plan offers you access to insurance coverage to help you pay for long-term care expenses. Insurance coverage is provided by the John Hancock Life Insurance Company. Under the LTC Plan, you choose a daily maximum benefit (DMB) to be paid to you. Your DMB is the maximum benefit the plan will pay for your care each day you're qualified to receive benefits. You can choose a DMB of $100, $200, or $300. Depending on the DMB you select, there is also a corresponding lifetime maximum benefit—a limit on the total benefits the plan will pay to you over your lifetime.
Eligibility	You are eligible for long-term care insurance if: you are an active employee, you are regularly scheduled to work at least 20 or more hours per week (whether full-time or part-time), and you reside within the U.S. on your date of application and effective date of coverage. You are also eligible if you are a retiree. If you are eligible for coverage, you may also enroll certain family members or a domestic partner.
Enrolling	To enroll, call John Hancock at 1-800-435-3538 to request an application form, or apply online at mcgraw-hill.jhancock.com (username: mcgraw-hill, password: mybenefit). You must also complete the statement of health on the application form. Fill out a separate form for each person applying for coverage.
Paying for Coverage	You pay the full cost of your coverage through payroll deductions (or directly to John Hancock if you are retired). Although premiums are paid through payroll or pension deductions, they are paid on an after-tax basis. If your spouse or other eligible family member enrolls for coverage, he or she must pay John Hancock directly for coverage.
How Benefits Are Paid	Before your benefits can begin: you must be certified for benefits under the LTC plan, and you must pay the full cost of your long-term care services for 90 days—this is called the Qualification Period. You must remain certified for benefits during your entire Qualification Period. Long-term care insurance benefits are generally paid on a monthly basis. Benefits can be paid to you or your service provider.