Human Resources

As an employee in the LSU System, you have access to a wide range of privileges and benefit programs.

This Web site can assist you in understanding not only the variety of options at your disposal, but also the types of contributions you need to make, and the requirements you have to meet in order to achieve your goals.

FAQs

TERM LIFE INSURANCE

What is Term life Insurance?
Term life insurance provides affordable coverage during the term of the policy. Term policies provide death-benefit-only protection; they have no cash value or added savings feature. Term insurance is the most affordable life insurance you can buy. Term insurance may be the best option if you need to “stretch” your insurance dollars during times of high protection needs, such as paying outstanding debts, college tuition or mortgage payments in the event that you die. Term polices may also be a good investment if you need additional life insurance to supplement permanent life insurance. Keep in mind that premiums are lowest when you are young and increase with age.

When and How Do I Enroll?
You may enroll within 30 days of your employment or eligibility for coverage. Simply complete the enrollment card and return it to your Human Resource Management Office.

If you wait past your first 30 days of employment, you may enroll as a late applicant but will have to complete an Evidence Of Insurability Form and be underwritten and approved for coverage. Simply complete the Evidence of Insurability form and return it to your Human Resource Management Office. ING will contact you directly regarding any further steps that may need to be taken before a decision is made.

How Much Will This Plan Cost Me?
Calculate the amount of your payroll deduction using the premium rate table on the attached enrollment form. Your premium is based on your age (and your spouse’s age) and the amount of coverage purchased. The premium rate changes to the next high rate as you reach each new age bracket.
LONG-TERM CARE INSURANCE

Why Do I Need Long-Term Care Insurance?

  • Over 12 million people in the United States need long-term care. (1)
  • Two out of five Americans receiving long-term care are under age 65. (2)
  • The size of the population age 65 or older is projected to double over the next 30 years, growing to 70 million by 2030. (3)
  • Because women generally outlive men by several years, they face a 50 percent greater likelihood than men of entering a nursing home after age 65. (4)
  • Women face a 50% higher risk simply because they live longer. (4)
  • 40% of Americans receiving long-term care are under age 65. (2)

Many conditions can result in the need for ongoing care, including arthritis, heart disease and mental impairment, as well as, stroke and trauma. In fact, stroke is a leading cause of serious, long-term disability in the United States. (5)

Americans who need long-term care have more choices today. Many are able to remain in their homes and still receive the care they need. Only 12% of people who need long-term care are in nursing homes or other institutional facilities. (6)

If you became disabled for any reason and couldn’t live independently, how would you pay for the care you need? The financial impact of long-term care is significant, no matter where it is provided, and government programs don’t always pay for services:

  • As a national average, a year in a nursing home is estimated to cost more than $46,000. In some regions, it can cost twice that amount.7 Bringing an aide into your home just three times a week to help with dressing, bathing, preparing meals, and similar household chores can easily cost $12,000 a year. (8)
  • Expenditures for nursing home care and home health care totaled $117.1 billion in 1998. Of that amount, Medicare accounted for 18%, Medicaid 39%. Almost 30% (over $35 billion) was paid out-of-pocket by individuals. (9)
  • The average cost of nursing home care in the U.S. is roughly $46,000 a year, and in some parts of the country, it’s even higher. (7)
  • Nationwide, home care costs average $12,000 a year. (8)

Here’s the most important reason to purchase Long-Term Care insurance: it’s an effective way to help you remain independent for as long as possible when you are disabled.

Statistics are the projection of the author and were not developed by UnumProvident.

  1. The Henry J. Kaiser Family Foundation, Fact Sheet #2186, “Medicaid’s Role in Long-Term Care”, March, 2001.
  2. Health Insurance Association of America (HIAA), “Guide to Long-Term Care Insurance,” © 2002.
  3. U.S. Census Bureau, “National Population Projections” http://www.census.gov/population/www/projections/natsum-t1.html (Accessed 4/24/2002.)
  4. HIAA, “Guide to Long-Term Care Insurance,” © 2002.
  5. 2002 Heart and Stroke Statistical Update, American Heart Association.
  6. The Henry J. Kaiser Family Foundation, Fact Sheet #2186, “Medicaid’s Role in Long-Term Care,” March 2001.
  7. HIAA, “Guide to Long-Term Care Insurance,” © 2002.
  8. HIAA, “Guide to Long-Term Care Insurance,” © 2002.
  9. “Long Term Care,” by Natalie Graves Tucker, Enid Kassner, Faith Mullen, and Barbara Coleman, AARP Public Policy Institute, May 2000.

When Can I Enroll in This Plan?
You may enroll within 30 days of your employment or eligibility for coverage for both yourself and your spouse – guaranteed issue. You may enroll your parents and grandparents as well, but they will have to undergo medical underwriting and be approved for coverage.

If you enroll after your first 30 days of employment or eligibility, you will have to submit Evidence of Insurability and be approved for coverage.

Please contact your HR Benefits Representative for enrollment information into this plan.

If I Leave LSU, Can I Take This Plan With Me?
Yes, this coverage is portable if you leave LSU; however, you must submit the portability paperwork within 30 days from your loss of coverage in order to be approved.

Contact your HRM Benefits Representative for Portability Paperwork.