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Mom And Pop Worry About Nursing Home Bills

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Owners of very small businesses believe they are far more interested in long term care insurance benefits than their employees are.[@@]

Researchers at the National Association for the Self-Employed, Washington, have published data supporting that conclusion in a report on a survey of 618 owners or operators of businesses with 10 or fewer employees.

Unsurprisingly, the researchers found that owners of “micro businesses” have a tough time buying health insurance.

Only 14% of the survey participants were uninsured, but 22% of the owners of owner-only companies and 18% of the owners of 2-person companies were uninsured.

Almost 22% of the micro business owners under 35 were uninsured.

But the researchers also found that 45% believe that “it is necessary to offer health insurance as a benefit to find and hire qualified people.”

About as many of the survey participants == 43% == said they believe they have a “responsibility as an employer” to offer health insurance benefits.

When the researchers asked micro business owners about the top 3 benefits that they could offer employees, only 6% said they think long term care insurance is one of the top 3 benefits sought by employees.

But 25% of the participants said they think LTC insurance is a top 3 benefit for themselves. Micro business owners said they think LTC benefits are more appealing than life insurance or paid sick leave. For the micro business owners, LTC insurance was almost as popular as dental insurance.

Similarly, although 37% of the business owners said disability insurance is a top 3 benefit for themselves, the owners said they believe employees are more interested in paid vacation time, dental insurance and paid sick leave as well as in health insurance and a retirement plan.


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