“Why are Business Owners getting LTC coverage for themselves at a rapid rate?”

There are really 2 reasons why LTC Employer Coverage is growing 61% in 2007 and 2008!

1. Business Owners & Key Executives are in their late 40’s and 50’s and are realizing that their parents (in their 70-80′s) are having challenges with their LTC needs and they ask themselves- “What about me and my family?”. These Executives find out that with their C-corporation, premiums are 100% tax deductible to the business, having the business pay for their coverage! And if when they pull the benefit in 6 months or 30 years, the benefits are generally tax free!
2. Company Executives realize in order to hire and retain key Employees, they can offer LTC coverage with no corporation cost to their Employees, after they take care of the Executives! Some of these Employees are studying their retirement strategy in their 40′s and realizing they must take care of themselves. Some of these Employees are in their late 50′s and realize that Company-based coverage is their only option, due to their health situation.

There are several ways an Employer Plan can be structured, but most will only have 3 to 5 medical questions making it very advantageous for all involved in the process. In addition, there is an additional employer-discount when the plan is verified and set up.

The Employer-based LTC benefit has to be carefully set up- so to give the best value to the executive team, as well as get the highest participation rate amongst the employee base. There are many options to review- from the very simple plans- to the very specialized plans giving full customization. More Long Term Care insurance carriers are bringing to market these plans, and evaluating the appropriate plans and matching to the Company’s objectives is a key success factor we have found.

Simply LTC Benefits specializes in working with each Employer Benefit Broker, and together, working with each Executive Team in structuring a LTC benefit plan that meets their objectives- from the Employer to the Employee. We work with Employers and Executive Teams in Washington, Oregon, Tennessee, Pennsylvania, Rhode Island, New Hampshire and Oklahoma- and expounding to more states as Employer-demand grows.

With so much at stake for a successful Employer-based LTC benefit, why not speak with a LTC Specialist to get simple answers for your situation?