At any time, you or someone you love could be diagnosed with a chronic illness or disability and suddenly need long-term assistance. Long-Term Care (LTC) coverage is an optional, voluntary benefit that can offer significant help—and peace of mind—if you need to pay for costly in-home or nursing care.
With LTC insurance through Trustmark, you’re provided a monthly dollar benefit to help pay for the costs of long-term care not covered by your health insurance, disability insurance, Medicare, or Medicaid. The plan also provides a life insurance benefit that’s separate from—and in addition to—other life insurance you may have (such as Intuit’s Life & Accident Insurance).
3 Important Reasons to Consider LTC Insurance
#1: Average life expectancy in the U.S. is about 76 years, and there’s an almost 70% chance that a person who turns 65 today will need some type of long-term care service or support. It’s a wise choice—and a wonderful gift to your loved ones—to prepare for long-term care needs, whenever they may occur. (Source: Centers for Disease Control and Prevention and LongTermCare.gov.)
#2: If their primary earner were to die, 1 in 3 households would have immediate trouble paying for living expenses, and only 1 in 5 have a safety net of five or more years. Having enough life insurance can protect your loved ones from costly expenses, debt, and the loss of your income—so the ones you leave behind can continue pursuing their dreams. (Source: 2022 Insurance Barometer Study LIMRA/Life Happens.)
#3: LTC insurance through Trustmark offers both life insurance protection while you’re working and help with long-term care expenses for the unexpected.
Eligible employees working at least 20 hours per week and their spouse/domestic partner can enroll. Employees up to age 64 have guaranteed acceptance.
* Employees in the state of WA will have an opportunity to enroll in this plan during the next annual enrollment period.
**Guaranteed acceptance is available for eligible employees ages 18–64. Employees ages 65–70 will be required to complete medical underwriting and will receive a traditional Universal Life policy.
How It Works
Long-term care is the assistance you may need with the basic activities of daily living, including eating, bathing, and dressing. It can also include supervision needed to protect your health and safety. Conditions that may call for long-term care include:
- Advanced age
- Parkinson’s Disease
LTC insurance pays or reimburses you for some or all of your long-term care costs, whether you’re in your own home, an adult day care center, an assisted living facility or a nursing home. These are expenses that are not covered by health insurance, disability insurance or Medicare.
LTC insurance is a way for you to help protect some or all of your retirement assets if you should ever need long-term care. It can also give you peace of mind in knowing that you won’t have to rely on others for help.
Your monthly cost depends on your age and the options you choose.
You purchase coverage through Trustmark and pay premiums directly to Trustmark. If you’re enrolled in a Health Savings Account (HSA), LTC insurance premiums are a qualified medical expense. You may file for reimbursement up to the maximum deductible amount for each tax year.
Once you enroll, Trustmark will provide more information about payment options, including how to set up automatic monthly payments.
If you leave Intuit, you can take your coverage with you and continue to pay Intuit employee rates.
When to Enroll
You can enroll during each year’s annual enrollment period.
How to Get Started
Visit the Trustmark log-in screen and enter these credentials:
User name: Your Intuit employee ID
PIN: Your date of birth (mmddyyyy)
Once you’re logged on you can get a rate quote, choose your plan, and enroll.
Start by choosing your life insurance amount, up to $150,000. If you need long-term care, you can receive a benefit of up to 4% of your life insurance amount per month to help pay for your care. Your total maximum long-term care benefit is equal to two times your total life insurance amount.
- Life insurance amount: $100,000
- Monthly long-term care benefit amount: $4,000 (4% of life insurance amount)
- Total long-term care benefit available: $200,000 (2x total life insurance amount)
- Access a recorded webinar.
- Visit Trustmark’s website and choose Get Started for personalized pricing information.
Where to Get Help
Call the Trustmark long-term care support team at 1-844-254-3860.