Many employers do not realize there is a huge gap in their employee retirement savings plan – the risk of their employees needing long-term care services. It is critical that employees plan during their working years when insurance is affordable. Furthermore, they are looking for confirmation and encouragement to begin the planning process from their employers – the same trusted resource that is helping them plan for retirement. Employer-based long-term care insurance is an essential part of a comprehensive benefits package. From the federal government to the majority of S&P 500 companies, many firms are now offering long-term care insurance to their employees.

It Helps Protect Assets

Well-informed and financially savvy people understand the dangers that a long-term care episode can present to their financial portfolios. In fact, paying for a long-term care stay out-of-pocket can be a large contributor to the depletion of assets throughout the retiree population.

It Gives People a Choice About Care

Although Medicare and Medicaid pay for long-term care costs, coverage may be limited. Long-term care insurance policies make it possible to receive care where people want and need it most. Some policies will also pay benefits internationally.

It Eases the Burden on Family Members

Providing care can place an extreme physical, emotional and financial burden on loved ones. Long-term care insurance allows family members to be involved in the care-giving process without being the primary provider.

NFP Benefits Partners can assist you from start to finish in implementing corporate, individual, nonprofit, or association long-term care plans.