The Virginia Retirement System (VRS) has contracted with Genworth Life Insurance Company to offer Long-Term Care Insurance to Commonwealth of Virginia employees. Coverage is participant-paid (directly billed to employees and not payroll deducted) for a monthly benefit allowance of covered long-term care expenses.
- Reduced medical underwriting (proof of good health) if you are age 65 and under and apply within 60 days of employment. Full medical underwriting will be required after 60 days or if you are over age 65.
- Full medical underwriting is required for any family members who apply, or if you are a VRS deferred member or retiree.
- At group rates, your premiums may be more affordable. You pay premiums directly to Genworth.
- If you leave or retire from your position, you may continue your coverage under Genworth. If you are not enrolled, you can apply as a deferred VRS member or retiree.
- You can choose one of three benefit increase options that will allow you to increase your coverage over time to help protect against the rising cost of care.
- If you are eligible for the VSDP Long-Term Care Plan or have other long-term care insurance, including the VLDP Long-Term Care Plan, you may be able to coordinate with the voluntary program to obtain even more coverage.