Why Long Term Care Insurance?
The potential need for long term care may be the greatest uninsured threat to an individual’s financial well being. Many people think they may already be covered for long term care through their other employee benefits, but this is simply not true. Others think that they can rely on the government or family members to help, but these options may be unreliable:
Medical and disability benefits do not generally cover long term care expenses.
Generally, Medicare offers limited coverage for skilled care following a hospital stay but many long term care situations do not require hospital confinement and most require unskilled care.
Medicaid is designed to provide health care for the poorest citizens, requiring a person to spend down assets to poverty levels, and the Medicaid loopholes like transferring assets has all but disappeared.
Family members, who often shared the burden of care, may be busy with work responsibilities, occupied with raising their own families, or live far away.
Value to Individuals
Organizations need to know that the value of the coverage is well worth the premium for the their employees or association members. You can tell them that long term care insurance can help:
Protect assets and savings from high cost of care.
Safeguard retirement plan savings.
Secure independence and give them more choices for care.
Establish a firewall thus shielding family members from the burden of care giving.
Create a comprehensive financial plan.
Provide resources and advice to help find the most appropriate care in the most desirable location.
Advantages for Employers
Employers need to understand that the introduction of this benefit can help them meet many of their business goals by:
Enhancing their benefit portfolios at little or no cost, without placing additional strain their internal resources.
Filling the gaps in their current coverage so then can compete with their peers.
Attracting and rewarding and retaining the best employees.
Demonstrating their good will by providing employees with the opportunity to purchase insurance protection not found in other benefits.
Regaining lost productivity among employees distracted by care giving.
Securing tax advantages when they pay all or a portion of the premiums.
Call us today and let us help you put a long-term-care plan together for you.