Group Long Term Care Insurance

Unum no longer sells new group or individual policies for long term care (LTC) insurance, but we are servicing existing policies.

Assessing the future of your long term care policy

Our decision to discontinue selling new LTC policies does not affect our current policies. We will continue to administer current policies and provide the same benefits, services, and support for long term care. To do so, we expect rate increases to be ongoing as we work to keep existing policies priced appropriately to meet future claim obligations.

We recognize past and potential future rate actions may have a financial impact on your policy, so we encourage you to explore these policy solutions to determine what option is best for you and your employees.

These resources can help with navigating concerns you may have or to determine whether to terminate, close, or change your group LTC plan.

Types of financial impacts

Policy rate increases

Rate increases vary by state, product, and pricing strategy. While some states have permitted implementation of the full requested rate increase either as a flat or as a multi-year increase, other states have permitted only a partial rate increase. For partial rate increase approvals, we intend to request additional increases with the goal of achieving the full rate increase.

New enrollee pricing

This affects new enrollees on active group policies and may be significantly higher than current rates. We are implementing new rates for new enrollees on all policy series.

Determine the value of your LTC policy

These questions will help determine if the value of your LTC policy is worth the financial impact of future rate increases.

Do my employees value the benefit?

Is the participation in the program meeting my expectations?
Has participation fallen below the minimum lives required as stated in the policy?
Is there strong interest in offering GLTC coverage relative to other company provided benefits?
Do a high rate of employees continue their coverage after leaving the company?

Does the value of the program justify the costs of offering this benefit to employees?

How much is my company spending to make this benefit available to employees?
How long is my benefits team spending to administer the plan, rate actions, and associated communications?
Is the benefit in line with my company’s strategy for a competitive benefit offering to attract and retain talent?

Actions you can take with your LTC policy

Freeze future enrollments

Stop new enrollments, but maintain a group bill for your currently covered employees for the convenience of payroll deductions.

Terminate the policy

Discontinue your obligations as plan administrator and remove your involvement in any future rate increases by terminating the group policy. Employees will pay their premium directly to Unum.

Explore plan changes

Update your LTC plan design by reducing benefit options and thereby reducing your premiums.

Past rate increases reveal the possible future of LTC policies

2013

Unum implements a 75% rate increase on a national basis for B.LTC and GLTC95 policies sold from late 1980’s through early 2000’s. Download the Rate Increase State Implementation Grid.
2018

Unum launches New Enrollee Pricing (NEP) on the B.LTC and GLTC95 product series. Pricing becomes significantly higher than original sold case rates, even with the 75% increase, and targets new enrollees on active group policies.
2019 and ongoing
Unum files for and begins to implement two additional rounds of rate increases
1. On the B.LTC and GLTC 95 product series, with any remaining increase amounts left from the 2013 (75%) initiative, seeking additional increases for both simple and compound inflation types. Download the Rate Increase State Implementation Grid.
2. On the GLTC04 product series, sold from the mid-2000s until 2012 when Unum exited the GLTC market, increases on insureds with both simple and compound inflation are initiated. Download the Rate Increase State Implementation Grid.
2022 and ongoing

Unum begins filing and implementing new rates for new enrollees for active group customers on the GLTC04 product series, plus an additional implementation of new rates for new enrollees on active group customers on the B.LTC and GLTC95 product series. Rates became significantly higher depending on age and plan type.

Commonly asked questions about long term care policies

What is my role as a plan administrator?

What rate increases have been approved in the state where my policy is issued?

What options are available to help ease the effects of a rate increase?

There are many available options to reduce the impact of future repricing efforts, such as changing the Group Long Term Care plan design by reducing benefit options, freezing the policy to future enrollments, or terminating the policy altogether. To learn more about these resources, click below to email us at your convenience or contact our Customer Service Center at 1-800-227-4165 between 8:00 a.m. and 8:00 p.m. ET, Monday through Friday.

What are my options if new employees are not demonstrating interest in enrolling in long term care coverage?

We are considering terminating our Group Long Term Care policy but wish for current employees to maintain their coverage, what are our options?

If we choose to terminate our policy, what are our next steps?

A Unum representative is available to support you through this process, assist with a timeline, and will provide materials to simplify the communication process to your employees, including the option for the employee to continue their Group Long Term Care coverage on a direct bill basis Policy Term Letter Template. To learn more about these resources, click below to email us at your convenience or contact our Customer Service Center at 1-800-227-4165 between 8:00 a.m. and 8:00 p.m. ET, Monday through Friday.

What is portability?

Where can I view my current plan design and rates?

Please refer to your specific informational website (“info site”) to access information about the new rates and plan options, as well as access enrollment materials and other disclosure forms. This info site includes an interactive cost calculator that will allow participants to compare their existing cost to their new cost, as well as provide cost illustrations for potential plan changes, if desired.

What happens when the minimum number of enrolled employees falls below the minimum required in the group policy?

If employee participation in your Group Long Term Care insurance plan is below the minimum requirement defined in the policy, then you will receive advance notification that the policy will terminate. Enrolled employees will have the option to continue their coverage, but they will be billed directly for the premium.

These resources will help you take action with your LTC policy

Freeze future enrollments

This letter template will help communicate the closing of your Long Term Care policy. The use of this template is optional and should be used as a guide.

Download letter

Terminate the policy

Use this letter template to communicate the termination of your Group Long Term policy. The use of this template is optional and should be used as a guide.

Download letter

Election to continue coverage

Use this form for employees choosing to continue their LTC coverage even after an employer terminates the policy or a change in employment status. This form must be completed before an employee can continue coverage.

Download form

Employers and HR Professionals

We want to help you with your group long term care policy.

Email us for more information or to speak with a Unum representative about your group long term care policy.

If you are an insured and need support with your coverage, please call the Unum Customer Contact Center at 1-800-227-4165.

Employer support