Employers are hesitant to offer long-term care but it may be based on several misconceptions. According to a survey by John Hancock, 63 percent of employers surveyed said they didn't think their employees would be interested in long-term care insurance, despite 60 percent saying they thought their employees were concerned about being able to afford long-term care. Two-thirds thought it would be too expensive to implement a plan and one-third thought it would be too time consuming.


Of employers who do offer long-term care insurance, nearly half did so to attract and retain employees. Forty-three percent offered LTCI to take advantage of tax benefits, and because employees demanded it. Employers aren't ignoring carriers either. Eighty-two percent of employers said the carrier's rating was important in choosing in product and 77 percent looked for a well-known carrier.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.