Long-Term Care Financing: Options for the Future Benefits Quarterly (Quarter 2, 2002) Vol. 18, No. 2 p.7; Mulvey, Janemarie
The rising cost of long-term care services, coupled with the explosion of the elderly population, will dramatically impact the Baby Boomer generation over the next three decades. This article cites a recent survey by Watson Wyatt Worldwide that shows there is growing interest among employers in offering private long-term care insurance to workers. But simply sponsoring the benefit may not be enough, the article says. According to a recent ACLI study, 67 percent of the buyers of long-term care insurance under age 50 believe that long-term care insurance is vitally important to the retirement planning process. The report also indicates that 60 percent of people between the ages of 50 and 59 believe it is very important.