New annualized premiums increased 16% for U.S. employer-sponsored group long term care insurance plans in 2007, and the number of employees participating in the plans increased 20%.
Between 1997 and 2007, the compound annual growth rate of group LTC sales was 12%, according to researchers at LIMRA International, Windsor, Conn.
In 2007, 5 out of 12 insurers participating in the LIMRA group LTC survey reported growth in employer-sponsored sales.
Participants’ experience ranged from a decline of 99% for one carrier to growth of more than 800% for another.
The number of new plan participants in existing groups increased 3%.