At home and in the workplace, long-term care is emerging as one of the critical issues of our times and employers have a key role to play. Employers can help their employees plan responsibly for their future needs. By extending coverage to family members, employers make it easier for workers to manage care giving responsibilities and remain productive on the job. In 1999, long-term care illnesses cost American businesses over $17 billion per year in lost productivity and $33 billion per year due to Alzheimer’s disease alone (Workforce, 10/99). To put it simply, employer-sponsored long-term care insurance is a win-win solution for everyone. Additionally, recent healthcare legislation (HIPPA, 1997) has made qualified long-term care insurance more tax advantageous for both employers and employees.

Employer sponsored long term care plans offer flexibility, portable policies, discounts, modified underwriting and protection for both employers and employees. In addition, employers can “carve out” plans that will help attract and retain key employees. Benefits paid to employees are not taxable income and any premium paid by the employer is tax deductible as a business expense. Similarly, premium paid by the employee is tax deductible from State of Ohio Income.

As a member of the Chamber of Commerce, you can take advantage of membership discounts, group rates (10 or more employees), carve out plans for executives, all while providing a vital benefit for your employees and their families. For more information, contact Denise Gott at 800-461-2051.

All Ohio LTC Agents can work with OLTCB to provide these NOACC discounts to their clients directly. Contact OLTCB at 800-461-2051 to find out how.