Alcatel-Lucent Long Term Care

To:  Alcatel Lucent Employees and Formerly Represented Retirees

Re:  Alcatel-Lucent Long Term Care

Alcatel-Lucent has been offering Long-Term Care Insurance (LTCI) through MetLife since 1999.  MetLife has informed Alcatel-Lucent of two significant changes that will be made to the Plan.  

MetLife notified Alcatel-Lucent of its intention to increase rates for its long term care insurance.  MetLife has started filing requests with the appropriate state insurance departments for an increase of 45%.  Affected participants were notified of the possibility of a rate increase last fall.  The timing of when this rate increase will take effect is subject to regulatory approval, among other factors. 

MetLife also notified Alcatel-Lucent of its intent to close the Plan to new entrants effective August 31, 2012 for active employees and formerly represented occupational retirees.  MetLife has agreed to extend this window until December 31, 2012.  If you are not already a Plan participant you have until the end of the year to apply for coverage under the Plan.  

Please keep in mind that if the appropriate insurance regulators approve MetLife’s request for a rate increase, the rate increase will apply to your coverage. MetLife will inform you of your new rates in advance of any increase. Where possible, MetLife may be able to provide you with option(s) to modify your existing coverage in order to lessen the impact of the increase.

 MetLife has assured Alcatel-Lucent that their decision to close the Plan to new entrants will not impact existing coverage for those already enrolled in the Plan. Your coverage is “guaranteed renewable”. This means that, as long as premiums are paid on time, coverage cannot be cancelled, although premiums for coverage can be raised subject to any required regulatory approval.

If you have any questions please call MetLife at 1-800-984-8651 to speak with a Customer Service Consultant.