Although it may seem like an uncommon factor, encouraging younger employees to purchase long term care insurance is becoming increasingly popular. While many different forms of insurance are important for consideration and eventual subscription towards, long term care insurance is becoming more important for many people on a daily basis, not only seniors. It is estimated that there are around 60% of people over the age of 65 that need some type of long term care; in contrast, 40% of people who are currently receiving long term care are between the ages of 18 to 65. Given these statistics, it’s becoming clear that long term care and its focus is not only directed towards the aging and the elderly.

Many employers are now encouraging their younger employees to consider purchasing long term care insurance because it is quite frankly within their best interest. The issue with traditional insurance plans and coverage is that they can only offer so much; these plans are not created to cover any of the aspects of long term care. Additionally, there are many elements and aspects to health care that Medicare and Medicaid are not able to cover and provide for on their own. Having a long term care insurance means that individuals have the security of knowing that they have another coverage plan that is going to be able to meet their needs if anything happens to them.

Another reason that employers are encouraging this type of insurance plan is because it’s widely undiscovered and unknown amongst the younger crowd. For older individuals, long term care insurance is a term that they are very familiar with because it’s part of planning for their future. Access to this type of insurance can pay for caregivers, nurses, hospice, and a variety of facilities where they may need to stay as they continue to age. However, for younger individuals, it’s not a term that is commonly used, nor is it something that is openly or often discussed during doctor visits or those check-ins with the insurance office. Employers encouraging this type of coverage to their employees ultimately helps by promoting and spreading awareness, because individuals who have never heard of the term or the coverage before can use some of their spare time to research about what long term care insurance is and what it can offer to them.

Ultimately, the decision to push more towards long term care insurance coverage proves that more businesses and employers are taking an active interest in the health and well-being of their employees. As a whole, younger employees that sign up for long term care insurance now have a far greater likelihood of staying covered by an insurance plan well into their senior years when they will need it the most.