How important is long-term care insurance? Private financial planners would likely agree that LTC insurance is a "must have" item, if you can get your hands on it. It's not as widely available as it used to be, but the value of LTC coverage is highlighted by the fact that there is a program for protecting federal workers in Texas and across the United States.
That said, just because coverage is available doesn't mean it is affordable. Indeed, the costs of premiums are going up whether you are in the private or public sector. However, as was recently announced by the Office of Personnel Management, there is a feature in the federal program that could allow a large number of employees to opt out of the premiums while retaining some of the benefits. The question to ask, says OPM, is "Is it worth it?"