With long-term care insurance, your employees have peace of mind, knowing they’ll have the care they need in their golden years or when recovering from an illness or injury.

Insurance Tip

If you offer a tax-qualified long-term care insurance plan to your employees, you may be eligible for tax deductions. In order to be considered a tax-qualified plan, it must meet certain criteria. Talk to your tax advisor to find out more.

A long-term care policy can have the following advantages for employees:

• Helps pay the expenses of nursing-home or in-home care, which can add up to more than $76,000 per year.¹
• Employees may not need to meet any medical requirements to qualify for an employer-group plan.
• Family members may also be able to join the plan.
• Some plans allow employees to take the policy with them if they leave the medical practice.
• Premiums will be cheaper than if they purchase an individual long-term care plan.

For employers, a long-term care policy can have these advantages:

• Helps you retain and attract quality employees.
• Minimizes absenteeism if an employee is the caregiver to a loved one covered on the plan.
• You can offer the policy as a voluntary policy, which allows you to keep costs down while still offering a benefit to your employees.

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