1. (valid email required)
 

cforms contact form by delicious:days

Long-Term Care Coverage for Employees Continues to Decline As More Insurers Leave, Says HighRoads Study

March 6, 2012

BOSTON – Long-term care as an employer-provided benefit continues to be a dwindling part of an employee’s overall health care benefits package, according to the results of a Long-Term Care (LTC) Benefits Program Pulse Survey announced today by HighRoads, the industry leader in employer health care compliance and benefits management.  Key findings show that 51% of survey respondents provide long term care while 49% do not.  About half of those who have dropped LTC say they did so because the insurance carrier offering the coverage has exited the market.  On a positive note: 96% of companies who are offering LTC coverage say they will continue to do so.

In other key findings, the survey found that, of those who do not offer the coverage, some 40% plan to do so again in the future, on a voluntary arrangement, as opposed to a group basis.

HighRoads conducted the survey to assess current employer practices and future plans for offering long-term care (LTC) benefits programs to their employees. Respondents ranged in size from fewer than 5,000 employees to more than 50,000 employees. The majority of respondents have more than 10,000 employees.

“HighRoads’ survey indicates that long-term care coverage is continuing to be an endangered item for employees.  The country has a growing number of retirees – many of whom will need some type of long-term medical care services in the future.  It is a serious issue when insurers no longer are willing to provide this as part of an employee’s health benefits plan,” said Michael Byers, CEO, HighRoads. “With the elimination of the CLASS provisions from the ACA, which would have enabled working Americans to purchase coverage to supplement LTC and Medicare and pay for non-medical expenses to allow a disabled person to remain independent, millions of Americans will be left without a safety net should they become disabled,” added Byers.

According to data from the 2005 National Interview Survey and the 2004 National Nursing Home Survey conducted by the Health Policy Institute at Georgetown University found that over 10 million Americans need long-term services and support to assist them in life’s daily activities and that number is expected to grow with the aging of the population and growing number of people with disabilities.

The HighRoads survey found that more than 90% of the employers who offer LTC do so as an additional benefit to their employees.  The remainder is equally divided between offering LTC as part of their overall health care strategy and being required by union contracts to offer this benefit.

Of the employers who responded 71% offer coverage on a group basis.  The remainder offer it on an individual basis.

For a copy of the report please contact Petra Marino at pmarino@highroads.com

Latest News

NWN named to CRN’s 2015 TE250 list

Amerigroup-Curaspan Pilot Findings Result in 12-Month Extension. Increased enrollment in community health programs spurs inclusion of Maryland HIE.

BCD and Zend Become Industry’s Primary Resource for PHP-on-IBM i Development Through Expanded Partnership. Industry leaders will tightly integrate to help IBM i organizations succeed at all stages of the PHP development lifecycle

Pic Nix Wins Best of Show – Allen & Gerritsen Takes Home the Top Prize at the Philadelphia Addy Awards with BEST OF SHOW

CYBEX UNVEILS NEW STRENGTH, CARDIO AND SERVICE SOLUTIONS AT IHRSA 2015

Datawatch Named to KMWorld Magazine’s “100 Companies That Matter in Knowledge Management” for Four Years Running

Aquent And Vitamin T Win Inavero’s 2015 Best of Staffing® AwardGlobal Creative Staffing Firm Once Again Recognized for Superior Client Service and Exceptional Job Candidate Experience

Bigbelly Honored as This Year’s Top Smart City Application. Receives People’s Choice Award in the 2014/15 Internet of Things Awards


Latest Newsletters

September Newsletter 2014

Mass. Capital Announces Addition to Investment Team

January 2014 Newsletter

December 2013 Newsletter

October 2013 Newsletter

June 2013 Newsletter

March 2013 Newsletter

Mass. Capital Announces Leadership Transition


Archives