Buyers of true group long term care insurance tended to be older in 2009, and selected less costly policy features, according to new analysis from the American Association for Long-Term Care Insurance (AALTCI).
"Costs for health insurance and other employee benefit programs increased dramatically last year so it's not surprising that employees were older and more cost-conscious when it came to long-term care coverage," said Jesse Slome, executive director of AALTCI, in a released statement. "Younger employees likely decided they could postpone the decision."
More than one-third (37.2 percent) of new group buyers were age 55 or older in 2009, compared to 28 percent in 2008.
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