The Previdir “LTC “Long Term Care program offers the insured individual who has suffered an injury or illness whereby they are no longer self sufficient, a periodic revalutable pension so as to meet financials required for social and health care benefits which are required by the insured individual.
The reference to non self sufficiency manifests itself in the inability, total or partial, to carry out on a permanent basis, the normal actions of daily life so called A.D.L. (Activities of Daily Living) such as: washing, dressing, eating, using bathroom facilities, cooking, etc…
Coverage offered as Long Term Care insures the risk of non self sufficiency on a 24 hour basis, irregardless of there the accident occurs, even outside of ther normal work environment. They type of coverage offered is very personalized to each insured both on an individual and collective basis and is often used as a reference model for Administrators,Entrepreneurs, Employers or Employees.
Recognition regarding the loss of auto self sufficiency may be established, according to specific criteria and regulations, which the policy holder must present, indicating a certain level of inability to proceed independently in living the following basic acts of daily life:
- personal hygene
- cognitive impairment
Example of Non-Self-Sufficiency Evalution
Conditions required to access the insurance coverage
- participation in the LTC Long Term Care program must be offered to ALL employees belonging to the same homogeneous category of employees, who are subject to an employment labor agreement or contract, as an alternative coverage should be for all Directors, Contributors, Shareholders, Entrepreneurs, Legal Business representatives
- mandatory anamnestic questionnaires regarding different age groups
- age of insureds may only between the ages of 18-70
- injury: not applicable;
- illness: 3 years in the event of non self sufficiency event resulting from a degenerative brain disease caused by an organic Cause (i.e. Alzheimer’s or Parkinson’s); 1 year for other diseases;
- acquired immunodeficiency syndrome (AIDS), or other related pathology: 5 years.
The lifetime LTC program offers reserved benefits indiscriminately for all categotries of employees:
- Middle Management
- White Collars Employees
- Blue Collars Employees
and also to:
- Entrepreneurs, Legal Representatives, Directors, Board Members, Auditors, Contractors, Holders
The tax implications for the insureds covered under this program offer more advantageous conditions when implementing alternative LTC Long Term Care plans.
The Sacconi Ministerial Decree issued on 27 October 2009 regarding the Supplemental Health Care Funds of the National Health Care system , requires that no less than 20 % of the financial resources available be used for dental and long term care services. Non compliance with this obligation will not permit the insured to take advantage of the tax breaks offered under the annual limit of € 3.615,50 as provdied for under article 51, paragraph 2 of TUIR Testo Unico Imposte Reddito (Italian Tax Directive). In order to allow the insureds to take advantage of the tax benefits provided by the Sacconi Decree, PREVIDIR has registered the programs with the Registry of Health Care Funds, as established by the Italian Ministry of Health.