I pay $68.30/month. I wondered how that would be handled as it would make a difference in my out of pocket expenses. It pays so much a day and I would assume would be assigned to the facility I chose and I would pay the balance. Is that correct?
The federal long term care insurance program allows their members to choose long term care setting based on their preference. This program allows federal employees to purchase LTC with better financing options, it is also renewable, thus, an insurance company cannot cancel the coverage as long as you continuously pay your premium. Even if you retired, you can still keep your coverage by paying the premium religiously. You can find more information regarding federal long term care insurance here: http://www.infolongtermcare.org/federal-long-term-care-laws/
Hope this helps :)