| Blue Cross Blue Shield of Michigan will start a new | | | | number of long term care policies has been 18% |
| company that will offer long term care insurance | | | | a year.COMPANY WILL GO NATIONAL WITH |
| policies beginning in July 2006 and concentrate on | | | | ITS LONG TERM CARE INSURANCEThe new |
| providing long-term care services to individuals.The | | | | company expects to have 12 employees the first |
| individual policies would include coverage for | | | | year and expects to expand its long term care |
| assisted living and nursing care but there would be | | | | business to other states.Currently, there are |
| no group coverage products available.CHRONIC | | | | about 100 insurance companies, across the nation |
| ILLNESSES CAN BE COVERED BY LONG TERM | | | | that sell long term health insurance products. Blue |
| CARE INSURANCEUnlike traditional medical | | | | Cross Blue Shield of Michigan, which provides |
| insurance coverage, long term care coverage | | | | health care benefits to 4.7 million members, will be |
| helps patients address chronic illnesses and | | | | the sole investor in the newly formed |
| disabilities that employer policies and Medicare | | | | company."What you will see, traditionally, is that |
| don't cover. They usually include meals and help | | | | there have been several companies that offer |
| with daily activities such as bathing and getting | | | | such products," said Mohit Ghose, a spokesman |
| dressed. This will help protect them as the | | | | for America's Health Insurance Plans, a |
| average cost of nursing home care is more than | | | | Washington, D.C. based healthcare association |
| $50,000 a year, according to the AARP.U.S. | | | | representing 1,300 member insurance companies. |
| Census data suggest that the population of people | | | | "I think more choice for consumers is always a |
| 65 and older will double to more than 70 million by | | | | good thing. |
| 2030. Meanwhile the average growth in the | | | | |