“More employers are offering long-term care insurance as a benefit to employees, family members and even retirees,” explains Jesse Slome, executive director of the national producer trade group.  “Conventional wisdom says that group insurance policies cost less than a policy you could purchase on your own but that is not always true for long-term care insurance.” 

According the the Association recommendations, with employer-offered long-term care insurance there are important factors consumers need to evaluate.  “By doing careful comparison shopping, you might find you are able to get equal or even better coverage for less money,” Slome acknowledges.  “A 55-year old couple could pay 25 percent less according to some current analysis.”

Over eight million Americans have long-term care insurance purchased either on an individual basis or through a group plan according to AALTCI’s 2011 Long-Term Care Insurance Sourcebook.  “Employers offering the coverage, typically on a voluntary basis, have been doing great work at expanding awareness for the importance of planning,” Slome adds.  “They are making coverage available to millions and offer coverage to many who might never health qualify for traditional individual long-term care insurance policy.”

As part of the awareness campaign, the Association launched a new online guide for consumers at http://www.aaltci.org/compare.  “We want to encourage anyone who is 50 or older to give serious consideration to planning for the risk of needing long-term care,” Slome concludes.  “If you plan to live a long life, into your 80s, 90s or even longer, you had better have a plan in place.”

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