Insurance Coverage

• retired at age 65 with at least 10 years of Qualifying Service, or
• retired at age 55 with at least 15 years of Qualifying Service, or
• retired with age plus years of Qualifying Service equal to 75 (with at least 10 years Qualifying Service), or
• became a participant in the Early Separation Program, or
• opted out of the Class 3 Retiree Tapered Life insurance coverage after December 31, 2007

Contact PHR Shared Services at 1-877-608-0044 or PHRSharedServices@kp.org for more information.

• Life Insurance Beneficiary Form
• Retiree Life Cancellation Form

Tapered Life Insurance

Tapered Life Insurance is a continuation of the Optional Life Insurance program for eligible physicians.

Tapered Life pays you a benefit based on a schedule that automatically begins tapering the benefit amount the first day of the second month following your 65th birthday*.

You are eligible for Tapered Life Insurance if you meet the following three requirements:

• You were enrolled in Optional Life Insurance prior to January 1, 1991,
• You participated in the Optional Life Insurance program for at least 10 consecutive years preceding attainment of age 65 or Early Retirement, whichever occurs first, and
• At retirement, you:
• attain age 55 with 15 or more years of Qualifying Service, or
• attain age 65 with 10 or more years of Qualifying Service, or
• have age plus years of Qualifying Service equal at least 75 (with 10 or more years of Qualifying Service), or
• are an Early Separation Program participant.

* Special Provisions for Early Separation Retirees
If you retire under the Early Separation Program and are eligible for Tapered Life Insurance, you may be eligible to have SCPMG pay for the premiums for Optional Life insurance on your behalf for a limited time.  If eligible, this can alter the date that tapering begins. 

If you have:

• At least 10 years of participation in Group Rated Optional Life by 12-31-90, Optional Life is maintained at SCPMG expense until you reach age 65, at which time the benefit will begin tapering.
• At least 10 years participation in the Group Rated Optional Life by the time of Early Separation, but not before 12-31-90, tapering will begin at the time of Early Separation.
  

Contact PHR Shared Services at 1-877-608-0044 or PHRSharedServices@kp.org for more information regarding eligibility.

• Tapered Life Cancellation Form
• Tapered Life Coverage Reduction Form

Long-Term Care Insurance

Long-Term Care Insurance is designed to provide you and/or your eligible family members with financial protection for services provided by a nursing home and/or home- and community-based care.  Coverage is at your own expense.

Genworth Life Insurance Company
Effective April 2014, SCPMG is now offering Long Term Care Insurance through Genworth Life Insurance Company. 

• Genworth Long Term Care Insurance Brochure
• KFHP, Supplemental Medical & Long Term Care Insurance – Coordination of Benefits

Individuals eligible for this program include:

• Retired Partner physicians under age 76
• Family members of an eligible retiree who are between ages 18 and 75, including:
• Spouses or domestic partners
• Adult children
• Siblings
• Parents, parents-in-law, step parents, step parents-in-law
• Grandparents, grandparents-in-law, step grandparents, step grandparents-in-law

If you previously purchased a New York Life Insurance Company policy through SCPMG, this new offering DOES NOT affect your existing New York Life coverage.

If you have questions about the Genworth Long Term Care program, contact a Genworth representative at 1-800-416-3624.

New York Life Insurance Company
New York Life terminated its contract with SCPMG effective November 1, 2012. Due to the contract termination, no new enrollments are being accepted.  However, the contract termination DOES NOT affect existing personal Long Term Care policies with New York Life.  If you have an existing policy, your policy will remain intact unless you request to cancel the policy yourself or you fail to pay your premiums timely.  Additionally, your current method for remitting premium payment for this coverage will remain unchanged.

For questions about existing New York Life policies, please contact Andrew or William Mangano at 330-482-1607.