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Massachusetts LTC Insurance Market Grows

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The number of Massachusetts residents with individual private long term care insurance increased to 97,644 in 2008, up about 23% from the total who had coverage in 2004.

Officials in the Massachusetts Division of Insurance have published those figures in a summary of results from a 2010 survey.

The number of group LTC insureds increased 16%, to 55,214.

But the average age of increased to 65.3, from 61.9, in the individual market, and to 50.4, from 47.7, in the group market.

The average premium for plans sold in a particular year increased to about $2,700, from about $2,300, in the individual market, and to about $513, from about $486, in the individual market.


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