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.