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Voluntary LTC Gains Momentum

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Giant employers are supplementing traditional, employer-paid benefits with voluntary offerings.[@@]

The share of large employers offering voluntary long term care insurance jumped to 33% this year, from 20% in 2002, and the share offering voluntary disability insurance increased to 39%, from 30%, according to researchers at MetLife Inc., New York.

The researchers are basing those figures on results of surveys of Fortune 100 companies and those companies’ employees.

The biggest employers continue to offer rich traditional benefits: The number offering traditional life insurance increased 12% between 2002 and 2005, and the number offering retirement and savings plans increased 4%.

But MetLife researchers found that employees of giant employers continue to want a wider selection of voluntary benefits. The share who said they want to choose from a longer menu of voluntary benefits increased to 34% in 2005, from 28% in 2003, the researchers report.


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