Consumers who get long term care insurance through employer-sponsored group plans tend to be relatively young – and they tend to file claims relatively early.
Researchers at the American Association for Long-Term Care Insurance, Westlake Village, Calif., have reported that finding in a summary of results from an analysis of data on 95,000 participants in group LTC insurance plans and more than 200,000 individuals who bought coverage on their own.
In 2008, 24% of buyers buying LTC coverage through group plans were ages 35 to 44, AALTCI researchers found. Another 36% were ages 45 to 54, and 23% were ages 55 to 64.
In contrast, about 5% of the individual coverage buyers were ages 35 to 44, 24% were ages 45 to 54 and 53% were ages 55 to 64.
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The researchers found a considerable spread between the low and high amounts paid per-employee by group sponsors