Many people think they are too young to buy it.
Others hope or believe they will always be able to care for themselves. And still others prefer to use their current income to build a retirement nest egg. Employers have largely mirrored those perceptions, but the LTC market may get a boost from group plans offered by employers. The Health Insurance Portability and Accountability Act enacted last summer allows both employers and employees to deduct the cost of LTC insurance from their annual income taxes, starting this year. As with health insurance, employers can deduct the cost of premiums, and benefits paid to policyholders are tax-free, subject to limitations.