The Staggering Costs of Long Term Care Insurance


Just when people start to realize the need for a long term care insurance, they might be doubtful and hesitant again when they learn about its costs.  Yearly, the price of LTC policies continue to rise.  Premiums have seen a 6 to 17% increase as compared in 2011 and are shocking policyholders and interested buyers.

This is one of the reason why people are thinking twice about LTC.  Some ask for long term care insurance quotes, and just by seeing the numbers, they can already decide that the cost is too much, and probably they really do not need LTC insurance. (Do You Really Need Long Term Care?)

However, there are various ways to save on premiums such as health discounts, spousal discounts, group discounts, tax deductions, and annual premium payments.  If buyers will be informed about this, it may help them in coming up with better decisions.  Here’s a more detailed discussion on how to save on long term care premiums.


Find an Employer that Provides Long Term Care

In a press release published by HighRoads in PRWeb reveals that more and more employers are removing their long term care(LTC)  options for their workers as insurers begin to exit the market.  Employers can surely get great benefits from employers providing LTC as part of their workers health care benefits package but with this news, it seems like only a few employers will be offering this now.

Of the companies surveyed, 51% provide LTC while the remaining 49% do not.  Half of the companies who responded and dropped LTC mentioned that the main reason is the fact that the insurance carrier who offered the coverage has already left the market.  While this news might be quite alarming, there is still hope for employees to find an employer that offer the long term care benefit as based on the study, 96% of those company that responded said that they will continue with that benefit package.