§ 9008 Administrative functions

5 U.S.C. 9008(a)(a) In General.—The Office of Personnel Management shall prescribe regulations necessary to carry out this chapter.

5 U.S.C. 9008(b)(b) Enrollment Periods.—The Office shall provide for periodic coordinated enrollment, promotion, and education efforts in consultation with the carriers.

5 U.S.C. 9008(c)(c) Consultation.—Any regulations necessary to effect the application and operation of this chapter with respect to an eligible individual described in paragraph (3) or (4) of section 9001, or a qualified relative thereof, shall be prescribed by the Office in consultation with the appropriate Secretary.

5 U.S.C. 9008(d)(d) Informed Decisionmaking.—The Office shall ensure that each eligible individual applying for long-term care insurance under this chapter is furnished the information necessary to enable that individual to evaluate the advantages and disadvantages of obtaining long-term care insurance under this chapter, including the following:

5 U.S.C. 9008(d)(1)(1) The principal long-term care benefits and coverage available under this chapter, and how those benefits and coverage compare to the range of long-term care benefits and coverage otherwise generally available.

5 U.S.C. 9008(d)(2)(2) Representative examples of the cost of long-term care, and the sufficiency of the benefits available under this chapter relative to those costs. The information under this paragraph shall also include—

5 U.S.C. 9008(d)(2)(A)(A) the projected effect of inflation on the value of those benefits; and

5 U.S.C. 9008(d)(2)(B)(B) a comparison of the inflation-adjusted value of those benefits to the projected future costs of long-term care.

5 U.S.C. 9008(d)(3)(3) Any rights individuals under this chapter may have to cancel coverage, and to receive a total or partial refund of premiums. The information under this paragraph shall also include—

5 U.S.C. 9008(d)(3)(A)(A) the projected number or percentage of individuals likely to fail to maintain their coverage (determined based on lapse rates experienced under similar group long-term care insurance programs and, when available, this chapter); and

5 U.S.C. 9008(d)(3)(B)(i)(B)(i) a summary description of how and when premiums for long-term care insurance under this chapter may be raised;

5 U.S.C. 9008(d)(3)(B)(ii)(ii) the premium history during the last 10 years for each qualified carrier offering long-term care insurance under this chapter; and

5 U.S.C. 9008(d)(3)(B)(iii)(iii) if cost increases are anticipated, the projected premiums for a typical insured individual at various ages.

5 U.S.C. 9008(d)(4)(4) The advantages and disadvantages of long-term care insurance generally, relative to other means of accumulating or otherwise acquiring the assets that may be needed to meet the costs of long-term care, such as through tax-qualified retirement programs or other investment vehicles.