The city of Seattle has found a carrier to provide voluntary group long-term care insurance (LTCI) benefits for public employees.
A unit of Prudential Financial Inc., Newark, N.J. (NYSE:EWR), will offer LTCI coverage to all eligible active city employees who enroll during a special open enrollment from Sept. 4 to Sept. 12, according to David Stewart, the city’s personnel director.
Prudential will guarantee acceptance to eligible employees even though the company recently announced that it will be discontinuing its group LTCI program, Stewart says.
Seattle had been getting group LTCI benefits from John Hancock, Boston, a unit of Manulife Financial Corp., Toronto (TSX:MFC).
The new group coverage will take effect Oct. 1, Stewart says.
Retirees and family members of city employees can apply for coverage up until June 30, 2013. Retirees and family members “will be approved if they meet Prudential’s medical underwriting criteria based on evidence of good health,” Stewart says.