Benefits: Possibilities and pitfalls in long-term care

It is no surprise that long-term care coverage has emerged as a top priority for employee benefit managers. US workers have come to realize that the responsibility for retirement security has shifted to the individual, and many are reaching an age when their parents require daily assistance. Adding voluntary long-term care coverage can enhance a company' benefit program by helping employees plan for future long-term care needs, providing quality coverage at discounted group rates and favorable underwriting terms, and supplying a company with a competitive hiring advantage by offering this coverage. There are pitfalls to avoid: 1. inadequate long-term provisions, 2. thinking one size fits all, 3. not comparing proposals carefully, and 4. lack of a strong education program.