Commonwealth of Virginia (COV) Voluntary Group Long Term Care Insurance Program
Most medical plans don’t cover long-term care services such as nursing home care or at-home care to assist with bathing, eating or other activities of daily living. Anyone at any age may need these services, the cost of which can quickly deplete savings or retirement income. The Commonwealth of Virginia (COV) Voluntary Group Long Term Care Insurance Program can help with these costs.
State agencies automatically participate in the COV Voluntary Group Long Term Care Insurance Program. School divisions and political subdivisions may elect to participate in the program. Since the program is employee-paid, it does not cost you, the employer, anything to offer it.
VRS has contracted with Genworth Life Insurance Company as the insurer for the program. Coverage provides a monthly benefit allowance for covered long-term care expenses.
The following individuals are eligible to apply if they are between the ages of 18 and 79:
- State employees and faculty members who work at least 20 hours a week
- School instructional and management employees and political subdivision employees who work at least 20 hours a week, provided the employer has elected to participate in the program
- Deferred members who are vested (have at least five years of service credit)
- Retirees receiving a VRS-administered benefit
- Virginia public college and university retirees
Note: Deferred members and retirees are eligible to apply even if their former employer has not elected the program.
Select family members of eligible individuals also may apply. Family members include a spouse, adult children, parents, parents-in-law, step parents, step parents-in-law, grandparents, grandparents-in-law, step grandparents and step grandparents-in-law between the ages of 18 and 79. Employees can find more information about the program and how to apply by calling Genworth Life toll free at 1-866-859-6060 or visiting Genworth’s website for employees.
School divisions and political subdivisions that wish to participate in the program must submit a signed Employer Adoption Agreement 70kb and a list of eligible employees and their mailing addresses to VRS. Upon election, employees will receive enrollment information from Genworth Life. For more information about employer election, contact GLTCInfo@genworth.com. Resources designed specifically for employers also are available at Genworth's website for VRS employers.
- New employees do not have to have medical underwriting (provide proof of good health). Medical underwriting is required of any family members who wish to apply.
- At group rates offered to VRS members, the premiums may be more affordable. Premium rates are guaranteed through March 1, 2020 and will increase only if an employee makes a change to coverage.
- Employees can pay premiums directly to Genworth through a monthly Electronic Fund Transfer (EFT) from a checking or savings account. Or, they can arrange to pay the premiums to Genworth on a quarterly, semi-annual or annual basis and their premiums may be reduced.
- Political subdivisions, schools and non-CIPPS reporting state employers who elect the plan may offer employees the option to pay premiums through payroll deduction.
- Employees can choose one of three benefit increase options that will allow them to increase their coverage over time to help protect against the rising cost of care.
- Employees who are eligible for the Virginia Sickness and Disability Program (VSDP) Long-Term Care Plan or have other long-term care insurance may be able to coordinate with the COV voluntary program to obtain even more coverage.