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- Title
Long Term Care: An Employee Benefit Perspective.
- Authors
Bacon, Peter W.; Gitman, Lawrence J.; Ahmad, Khurshid; Ainina, M. Fall
- Abstract
This article uses responses to a mail questionnaire survey of employee benefits officers to assess the current role of major corporations in providing long term care (LTC) insurance to employees. Most respondents indicated their firm had no plans to provide long term care insurance as an employee benefit, They also perceived a lack of interest in long term care protection on the part of employees. The high cost of long term care benefits, unfunded postretirement medical liability, uncertainty regarding long term care legislation, unfavorable tax treatment and a lack of appropriate LTC products were regarded as important barriers to the widespread availability of long term care as an employee benefit. The major finding is that increased awareness and tax incentives will be necessary before long term care insurance is offered widely by corporations as an employee benefit. In addition, the insurance industry must take a much stronger role in developing and promoting group long term care plans.
- Subjects
LONG-term care insurance; EMPLOYER-sponsored health insurance; MEDICAL care; HEALTH insurance; EMPLOYEE benefits; COMPENSATION management
- Publication
Benefits Quarterly, 1989, Vol 5, Issue 3, p37
- ISSN
8756-1263
- Publication type
Article