As an employer, why should I offer a long-term care insurance plan to my employees and/or their family members?

When employees are faced with a long term care need – either for themselves or their family – it impacts their productivity. It is estimated that the cost to business of caregiving in terms of lost productivity is between $17.1 and $33.6 billion per year.1

Employees who provide care for a family member often experience increased absenteeism and may even stop working to provide such care. With long term care insurance in place, employees are better able to focus on their work responsibilities, without neglecting their family responsibilities.

Corporate-sponsored LTC insurance plans also offer employees the advantage of guaranteed issue coverage. This feature can make it possible for employees who would otherwise be uninsurable due to pre-existing conditions (e.g., multiple sclerosis, diabetes, or even loss of one or more activities of daily living) to obtain long term care insurance. Obviously, employees perceive great value in such a benefit!


1 “The MetLife Caregiving Cost Study: Productivity Losses to U.S. Business,” (Westport, CT and Bethesda, MD: The MetLife Mature Market Institute and National Alliance for Caregiving, July 2006), 11 and 17. Internet, August 23, 2010: Available: