Employers & Business Owners

Advantages of long-term care insurance as a benefit

  • Long-term care can be offered selectively and can tailored – employer pay all, totally voluntary, split dollar (based on age length of service).
  • Long-term care is fully portable. An employee can retain this coverage even after leaving the company.
  • Some plans allow for accelerated payments of 10 years-added incentive for and employee to stay with the company.
  • By extending coverage to family members, employers make it easier for workers to manage care giving responsibilities and remain productive on the job.
  • It tells your employees that you care about them now and in the future.

Long-term care insurance for employers

  • At home and in the workforce, long term care is emerging as one of the critical issues of our times, and employers have a key role to play through education.
  • Employers can help their employees plan responsibly for their future needs. Most Americans over the age of 44 view long-term care as an important health care issue, yet have little of nothing to prepare for the high costs of such a crisis in their lives.
  • It is one of the newest employee benefits made available to employees by businesses to attract and retain top performers.
  • By extending coverage to family members, employers make it easier for workers to manage care giving responsibilities and remain productive on the job.
  • It is a valuable addition to any benefits portfolio.

Tax benefits of qualified long-term care insurance

  • Tax advantages to both employer and employee. Employer-paid premiums are not taxable income for the employee.
  • Premiums 100% deductible as business expense for C–Corporations.
  • Premiums are deductible for owners of S-Corporations, limited to lesser of the actual premium paid or the eligible age based amount.
  • Premiums for employees other than owners are 100% tax deductible as a business expense to the employer.

Executive carve out

  • Employers may select or “carve out” groups of employees where the employers pays the premiums.
  • Insurance benefits received the employee are not taxable even when the employer paid for and deducted the premium.
  • Participants owns their policy.
  • If participants leave the business, they can keep the policy.
  • Educate employees on the issues surrounding long term care and the benefits of long term care insurance.
  • Educational workshops for your employee at no cost or obligation.
  • Meet with a long-term care specialist and learn about the available long-term care insurance plans.