Don't Rush Into Long-Term-Care Coverage Business Week (07/29/02) p.104; Cropper, Carol Marie
Almost a fifth of U.S. companies with 500 or more employees offer long-term care insurance, and the government has provided employees and businesses with tax incentives to buy coverage, but it is best suited for those 45 or older, and requires some shopping around, according to this article. Towers Perrin health care consultant Paula Wickland says that simple qualification and some savings are advantages presented by group plans, but Long-Term Care Quote President Robert Davis says that individual policies will suit some workers better. Individual policies have certain discounts, such as those for being married, and group plans are limited to the options selected by the employer; also, individual plans' terms cannot be changed, unlike group plans'. A group policy should be portable and tax-qualified, and should be issued by a reputable insurer--and it should cover various problems and kinds of care, the article says.