2015 Update: Thrivent has not only announced their new policy, but it has hit the market. Thrivent purchased the Newman Long Term Care agency to market this through independent brokers, so there should be no complaints about the widespread availability of the policy. Early analysis of the policies indicates that Thrivent has chosen to increase premiums over past products.
If you’re considering purchasing Long Term Care coverage at work, you may want to weigh the seemingly low prices with some of the fine print and other limitations that come with this type of Long Term Care Insurance. After all, LTC plans are complicated, so you want to be sure you’re comparing apples and apples.
Long Term Care Insurance policies have been sold since 1974 in some form or another. Coverage for Long Term Care was not ubiquitous, however, until 1996. Until the mid-2000s, many insurance companies could honestly claim that they had never raised their LTC policy rates in history.
Virtually all companies who sold Long Term Care Insurance over a period of many years have had to go back and adjust rates on existing policyholders. Mutual of Omaha has increased rates on several policy forms it sold in the past. The reasons for rate increases vary, and this page is general in many ways and not specific to Mutual of Omaha.