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5 U.S.C. § 9008Administrative functions

submitted 26 years ago by Pub. L. 106-265 to r/title-5-GOVERNMENT-ORGANIZATION-AND-EMPLOYEES · 389 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Office of Personnel Management must write rules to run this insurance program and coordinate enrollment periods. It must consult certain Secretaries for uniformed service members. It must also give applicants clear information to help them decide about coverage.

(a) In General. The Office of Personnel Management must write the regulations needed to run this chapter. (b) Enrollment Periods. The Office must run regular, coordinated enrollment, promotion, and education efforts, working with the insurers. (c) Consultation. For rules affecting people in paragraph (3) or (4) of section 9001, or their qualified relatives, the Office must work with the right Secretary to write them. (d) Informed Decisionmaking. The Office must give every applicant the information they need to weigh the pros and cons of this coverage, including: (1) the main benefits this chapter offers, compared to long-term care coverage generally available elsewhere; (2) example costs of long-term care, and whether this chapter's benefits are enough to cover them — including (A) how inflation will likely affect the benefits' value, and (B) how that inflation-adjusted value compares to future long-term care costs; (3) any rights to cancel coverage or get a refund of premiums — including (A) the likely number or percentage of people who will let their coverage lapse, based on similar group programs and, once available, this chapter itself; and (B) (i) a summary of how and when premiums can rise, (ii) the last 10 years of premium history for each insurer in this program, and (iii) if costs are expected to rise, projected premiums for a typical enrollee at different ages; and (4) the pros and cons of long-term care insurance generally, compared with other ways to save for long-term care costs, like tax-qualified retirement accounts or other investments.
the actual law source: uscode.house.gov ↗public domain
(a)In General.—

The Office of Personnel Management shall prescribe regulations necessary to carry out this chapter.

(b)Enrollment Periods.—

The Office shall provide for periodic coordinated enrollment, promotion, and education efforts in consultation with the carriers.

(c)Consultation.—

Any regulations necessary to effect the application and operation of this chapter with respect to an eligible individual described in paragraph (3) or (4) of section 9001, or a qualified relative thereof, shall be prescribed by the Office in consultation with the appropriate Secretary.

(d)Informed Decisionmaking.—

The Office shall ensure that each eligible individual applying for long-term care insurance under this chapter is furnished the information necessary to enable that individual to evaluate the advantages and disadvantages of obtaining long-term care insurance under this chapter, including the following:

(1)

The principal long-term care benefits and coverage available under this chapter, and how those benefits and coverage compare to the range of long-term care benefits and coverage otherwise generally available.

(2)

Representative examples of the cost of long-term care, and the sufficiency of the benefits available under this chapter relative to those costs. The information under this paragraph shall also include—

(A)

the projected effect of inflation on the value of those benefits; and

(B)

a comparison of the inflation-adjusted value of those benefits to the projected future costs of long-term care.

(3)

Any rights individuals under this chapter may have to cancel coverage, and to receive a total or partial refund of premiums. The information under this paragraph shall also include—

(A)

the projected number or percentage of individuals likely to fail to maintain their coverage (determined based on lapse rates experienced under similar group long-term care insurance programs and, when available, this chapter); and

(B)
(i)

a summary description of how and when premiums for long-term care insurance under this chapter may be raised;

(ii)

the premium history during the last 10 years for each qualified carrier offering long-term care insurance under this chapter; and

(iii)

if cost increases are anticipated, the projected premiums for a typical insured individual at various ages.

(4)

The advantages and disadvantages of long-term care insurance generally, relative to other means of accumulating or otherwise acquiring the assets that may be needed to meet the costs of long-term care, such as through tax-qualified retirement programs or other investment vehicles.

Source credit: (Added Pub. L. 106–265, title I, § 1002(a), Sept. 19, 2000, 114 Stat. 768.)

history & why it existsrecord from the source credit
  • 2000Enacted · Pub. L. 106-265 · 114 Stat. 768

A history note hasn’t been published yet. The record shows enactment by Pub. L. 106-265 on 2000-09-19.

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