1938 Security Drive,
Employer Sponsored Long Term Care
What is the biggest risk to your employees hard earned retirement savings? Becoming ill or disabled and needing care not covered by medical insurance could cost them from $40,000 to $80,000 per year. 70% of employees over 65 will need some form of Long Term Care.1
Just as you benefit your employees by providing a employer sponsored retirement plan you can sponsor a voluntary Long Term Care employer benefit plan that protects their retirement savings and offers your employees significant benefits they would not be able to receive if applying individually for coverage.
Why Employer Sponsored Plans are superior:
Employer Sponsored plans allow the Employer full discretion on eligibility, benefit amounts, and plan design. You can provide 100% employer benefit for your key employees, while offering other employees a voluntary benefit with no employer match. No ERISA laws or other government regulation limit how you structure the plan. With a base benefit plan of $100,000 benefit pool and up to $3,000 a month in benefit an average 50 year old employee would require a $50 monthly premium. A 25% employer match would cost the employer only $12.50 a month, compare that to what you pay for health insurance.
Benefits to Employer
Benefits to Employee
1 - longtermcare.gov/the-basics/how-much-care-will-you-need/ [6/17/14]