4 Things Every Business Needs to Know About Worksite Long Term Care Insurance:
Long Term Care Insurance is not usually what a business owner or an organization thinks about when preparing their employee benefit package. However, there are serious benefits to considering a customized Long-Term care plan for business executives and company employees;
- Policies Purchased Through the Worksite Receive Discounts. Thanks to group purchasing power, employer-sponsored plans obtain premium discounts. Once an employee receives a discount, it cannot removed, likewise, coverage is portable, guaranteed renewable, and care can be received anywhere in the United States and often abroad as well.
- LTC Insurance Is Attractive Even for Younger Employees: Policy design can be flexible. Some employees may choose a large policy that can ;provide as much as a million dollars of benefits later on, others may choose modest policies that will cover the vast majority of long term care scenarios.
- LTC Insurance Offers a Carve-out Opportunity with Unique Tax & Discrimination Advantages Unavailable in Other Benefit Programs. LTC insurance is often deductible to the employer, and benefits are almost always tax-free. Premiums are excludable from employees’ gross income.
A worksite plan can be completely voluntary at almost no cost to the employer, or it can be partially or completely employer paid, often with major tax advantages. Please contact us if your employer does not have a plan in place. You have an opportunity to install a major employee benefit. Insuring your future ensures your peace of mind. If you are currently not covered, contact us today to learn more about your options. —————————- Louis H. Brownstone is the Chairman of Northstar Network Insurance Agency, Inc. and a certified in Long Term Care specialist. Louis is recognized as an industry leader, with articles appearing frequently in California Broker Magazine and other industry publications and events. Read More…