A well-designed Long-Term Care (LTC) benefit can help your business recruit the best employees - and provide tax advantages for you and your business. And Long-Term Care is important even for those who think they'll need it least - 60% of the people requiring long-term care are seniors, while 40% are working adults.
Long-Term Care programs differ in size and scope, but they all help employees protect assets, reduce stress and maintain financial stability when prolonged illness strikes. Ironically, even as Nursing Home and Assisted Living costs continue to rise, studies show many people believe Medicare and Medicaid will cover their long-term care costs. This is not true.
- Medicare pays only a limited amount of Long-Term Care costs.
- Medicaid only pays for Long-Term Care when the victim has lost all of their personal wealth and assets
Helping your employees understand this will enhance their appreciation of your Long-Term Care benefit, as well as their productivity and peace of mind. Most employees seek encouragement on when to start retirement planning from their employer - the same trusted resource they rely on for much of their retirement plan funding. And the fact is, unless Long-Term Care is purchased while employees are in their prime working years, they may find it is priced out of their reach as they age. At the Linden Group, we understand this, and to help you meet your employees' needs, we offer a wide range of programs.
Long-term Care is a product that can benefit employers as well. There are tax advantages depending on your company's designation and other criteria. There are a variety of ways to offer Long-Term-Care from employer sponsored group plans, from offering the opportunity to buy-up additional coverage to providing LTC only as an attractive value-added benefit for key executives.
We will analyze your business and your employee demographics to help you determine how - and whether - Long-Term-Care might fit into your benefit plan. We are always working to maximize your company's bottom line and protect your corporate goals while protecting your employees against the financial devastation of long-term illness.
