A. The Board shall maintain and administer a long-term care coverage or similar benefit program for any state employee working an average of at least 20 hours per week, and for any other person who has five or more years of creditable service with any retirement plan administered by the Virginia Retirement System. The long-term care coverage program may also extend coverage to eligible family members of such state employee or other person. The Board is authorized to contract for and purchase insurance coverage or to use other actuarially sound funding necessary to effectuate this provision. Participation in the long-term care coverage program shall be voluntary, subject to policies and procedures adopted by the Board.
B. Any person eligible to participate in the long-term care coverage program pursuant to § 51.1-513.3 will not be eligible for this plan.
C. Notwithstanding the provisions of subsection A, the Board may self-insure long-term care benefits provided under § 51.1-513.2 or 51.1-513.3 in accordance with the standards set forth in § 51.1-124.30.
2008, c. 568; 2011, c. 722; 2018, cc. 53, 305.
Structure Code of Virginia
Title 51.1 - Pensions, Benefits, and Retirement
Chapter 5 - Group Insurance Program
§ 51.1-501. Board authorized to purchase group life and accident insurance policies
§ 51.1-502. Eligible employees and officers
§ 51.1-502.1. Certain employees of teaching hospitals
§ 51.1-502.3. Certain employees of the Virginia Port Authority
§ 51.1-503. Limitation on coverage
§ 51.1-504. Election of political subdivision to participate; approval by Board
§ 51.1-505.01. Additional accidental death and dismemberment benefits
§ 51.1-506. Employee contributions; payroll deductions; effect of failure to deduct
§ 51.1-507. Notice of desire not to be insured
§ 51.1-508. Employer contributions
§ 51.1-509. Keeping records and furnishing information required by Board
§ 51.1-510. Insurance exempt from process
§ 51.1-511. Persons entitled to payment of insurance on employee's death
§ 51.1-512. Optional life insurance
§ 51.1-512.1. Optional life insurance for the spouse and minor dependents of employees
§ 51.1-513.1. Long-term care insurance
§ 51.1-513.2. Long-term care coverage program
§ 51.1-513.4. Trust fund for long-term care programs
§ 51.1-514. Policies to provide for accounting to Board; advance premium deposit reserve