Skip to main content

OPM Renews FLTCIP Contract with John Hancock, Premium Increases to Come 

Effective May 1, 2023, the US Office of Personnel Management (OPM) extended its contract with John Hancock to provide insurance coverage to all Federal Long Term Care Insurance Program (FLTCIP) enrollees. Although OPM solicited multiple bids, John Hancock remained the sole bidder. The program administrator, Long Term Care Partners LLC, has mailed notice of this action to enrollees.  

Per the extended contract, most enrollees should expect to face a premium increase effective January 1, 2024. In September 2023, each enrollee will be offered personalized options that will include accepting the premium rate increase to maintain current coverage or to reduce coverage to reduce the impact of any increase. OPM indicated that premium increases would be phased in over three years for some options.  

No additional information on the premium increases or personalized options is available currently. 

Notably, OPM did not disclose the range of the premium increases nor the average premium increase, which it has done in the past. For historical reference, premium increases in 2016 averaged 83% and were as high as 126%, while premium increases in 2009 were as high as 25%.