Because 40 percent of those needing long-term care are under the age of 65, the need for long-term care will affect most families. Long-term care is not covered by any major medical plan or Medicare.
The cost of care can wipe out your 401(k) savings quickly if a proper plan is not put in place. Planning must occur when you are young and healthy enough to obtain coverage.
After six months of employment, new hires are eligible for a one-time offering to enroll in a long-term care plan with no medical record review requirement and discounted premiums. These plans are also available at discounted rates to spouses, significant others, siblings and, potentially, parents as well. Only you, as an Ingredion employee, will receive coverage with minimal medical underwriting.
Detailed information on long-term care coverage will be provided at your five-month anniversary via e-mail from the benefits e-mail box. To obtain more information about LTC, you can view a video of the LTC benefit presentation here: https://ingredion.ltcoptions.com (Password: longtermcare)