Enhancing Employee Benefits: The Case for Group Long-Term Care Insurance

ARTICLE | October 22, 2024

Authored by Vasquez + Company

Long-term care (LTC) insurance is essential for mitigating the financial impact of potential debilitating medical conditions in retirement. This article, "Should Employers Offer Long-Term Care Insurance as a Fringe Benefit?," discusses how employers can offer group LTC insurance as an attractive benefit for employees.

Key Points:

• Insurance Types: The article outlines two primary types of group LTC insurance: standalone policies and hybrid policies, detailing their benefits and tax implications.
• Employee Appeal: Group plans typically offer competitive premiums, favorable underwriting, and convenience for employees, making it easier for them to secure coverage.
• Workforce Analysis: Organizations should assess their workforce demographics and conduct surveys to determine if offering LTC insurance aligns with employee needs and preferences.

By providing access to LTC insurance, employers can enhance their benefits package, attract quality talent, and support employees' long-term financial security.

For more information, read the full article here.

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