The Office of Personnel Management and LTC Partners, a firm based in Portsmouth, NH, have renewed their contract to continue providing services for BENEFEDS to the federal workforce.
Through the contract, LTC Partners will continue to perform a number of functions and services for BENEFEDS.
These include running the online exchange and processing enrollments (and enrollment changes) for FEDVIP, through which eligible federal employees and annuitants may choose coverage from more than a dozen major national carriers.
Other requirements include collecting premiums from federal payroll providers or enrollees directly, providing a customer service call center, and managing and ensuring (in the case of payroll and annuity deductions) that premiums from insurers correctly match the coverage selected.
LTC Partners also administers premiums for the FLTCIP and federal employee payroll allotments for FSAFEDS, the Federal Flexible Spending Account Program.
“We are honored that OPM has elected to continue our partnership,” said Paul Forte, Chief Executive Officer of LTC Partners. “Operating successfully within the federal benefits environment requires responsive, secure, and compliant service and adherence to complex regulations and demanding service requirements. Our being chosen for another contract reflects our track record of outstanding performance across all areas of BENEFEDS administration, from enrollment and premium administration to the customer service experience.”
About LTC Partners
LTC Partners® (Long Term Care Partners, LLC®, or LTCP®), a third-party administrator of large-scale insurance and benefits programs, was founded in 2002. It administers both the Federal Long Term Care Insurance Program and BENEFEDS under the oversight of the U.S. Office of Personnel Management (OPM). LTC Partners is a wholly owned subsidiary of John Hancock Life & Health Insurance Company.