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Insurer Sees Employers Backing LTC Plans

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About 92% of employers that buy group long term care coverage from UnumProvident Corp. now pay a portion of the premiums.

Executives at UnumProvident, Chattanooga, Tenn., have reported that finding in a discussion of UnumProvident’s group LTC program.

UnumProvident group LTC programs now cover about 600,000 working-age employees, and UnumProvident has sold about 75% of the group LTC policies in force in the United States, company executives estimate.

About 52% of the insureds are under 45, and 92% choose to buy home health care benefits as well as nursing home benefits, company executives say.

The number of new group LTC policies sold increased about 15% in 2006, to 1,000, company executives say.

A few years ago, most group LTC program sponsors required employees to pay 100% of the premiums, but now most employers encourage employees to buy coverage by shouldering some of the cost, company executives say.