How to become eligible for the benefits?For program participants to claim a benefit, they'll need to meet both (a) LTC impairment requirements, and (b) a certain amount of vested contributions to the plan in order to qualify. Currently, here are the requirements:
- LTC requirement: Unable to perform 3 out of 10 activities of daily living (ADLs) or have a cognitive impairment.
- Contribution requirement: The equivalent of 10 years paid into the system (with at least 5 of those consecutive) OR 3 of the last 6 years. In both instances, the employee must work at least 500 hours a year for the years that apply.
Recipients can use the money to pay for a variety of types of care: in-home healthcare, assisted living, or a nursing home. Family members can even take state training courses to qualify for reimbursements if they help with in-home healthcare.
Will other states follow?
It’s likely. Other states that have brought up similar ideas include California, Illinois, Michigan, and Minnesota.
In next blogpost, we will discuss the program caveats.