Virginia Code 51.1-1178: Board authorized to provide long-term care insurance and benefits
A. For purposes of this section, “participating employee” means the same as that term is defined in § 51.1-1150.
Terms Used In Virginia Code 51.1-1178
- Contract: A legal written agreement that becomes binding when signed.
- Disability: means a partial disability or total disability. See Virginia Code 51.1-1150
- Program: means the program providing short-term disability and long-term disability benefits for participating employees established pursuant to this chapter. See Virginia Code 51.1-1150
B. The Board is authorized to develop, implement, and administer a long-term care insurance program for participating employees. The Board may contract for and purchase such long-term care insurance or may self-insure long-term care benefits or may use such other actuarially sound funding necessary to effectuate such long-term care insurance and benefits.
C. Employers of participating employees shall pay to the Board contribution amounts, to be determined by the Board, to provide the Board with such funds as shall be required from time to time to (i) obtain and maintain long-term care insurance and benefits for participating employees and (ii) administer the long-term care insurance program, including providing case management and cost containment programs. Contributions shall be deposited in the Hybrid Retirement Program Disability Insurance Trust Fund established under § 51.1-1183.