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- It shows a long term commitment to employees because it reaches from 20 to 30 years beyond employment. It sends a message to those employees that are offered this plan that they are significant to your company and that you care for them.
- Timing is everything. For a lot of the employees that are in the key roles you would offer long term care benefits to are part of generations that are dealing with aging parents and children. They might be already looking for long term care insurance to help.
- Healthcare is on everyone’s mind. Because it’s not getting cheaper anytime soon. Drugs are still expensive and care of any kind has a high cost associated with it. One of the biggest concerns for most people is planning for their retirement. How can you possibly afford healthcare when you are either living off a retirement or working less? Medical bills are higher and yet you have less money to draw from.
- Favorable Tax treatment. Especially if you are a C-Corporation, employer paid long term care insurance is fully deductible, not considered part of income and the benefits are usually paid tax free when used for qualified long term care insurance services.
If you would like to find out more about offering long term care insurance, don’t hesitate to contact us.