Long-term care insurance benefits provide employees with the coverage they might not find in traditional Medicare or Medicaid packages.
Many organizations don't think about how often their employees might require help from medical professionals when considering employee benefits programs. There are several reasons an individual might need regular assistance, including a debilitating accident or a chronic disease. The long-term care insurance benefit provides employees with the coverage they might not find in traditional Medicare or Medicaid packages.
Let's take a look at a couple of points you should be thinking about when searching for a long-term care insurance policy for your organization.
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Frequently Asked Questions
Employees may qualify for long-term care insurance if they have a debilitating condition that impacts their everyday functioning. The costs of routine care can be expensive, and without this program, families would financially struggle to get proper assistance. An employee in this situation might need help with activities like walking or eating. In addition, an employee might also require a nursing home or assisted living facility, which can be costly.
With long-term care insurance, you're giving your employees the peace of mind that they need to access affordable and necessary services. Long-term care insurance is a practical way to protect your employees from high medical costs. It can help employees receive attention when needed most and ensure their loved ones don't face these difficulties. As an employer, providing long-term care insurance is essential in signaling to your employees that you care about their long-term well-being. As a result, it'll make you a best-in-class employer that attracts and retains top talent.
Long-term care insurance provides relief to family members struggling to make ends meet with the limited coverage offered by traditional programs like Medicare. Because of the rising costs of recurring healthcare, employees may need additional coverage. Long-term care insurance also helps protect employees from the high costs of care for Alzheimer's and other chronic illnesses not covered under traditional plans.
Long-term insurance care has been available for over 30 years, but few employees say they have the coverage they need. This gap is mainly because many employers don't carry long-term care in their insurance packages. However, there has been a rising trend of companies including long-term care in their benefits package. The two most common types of employer-offered long-term care insurance are traditional "true groups" and group offerings. True groups coverage allows employees who have compromised health to pay the same premiums as a healthy person. With group offerings, employees extend a five to ten percent discount to cover family and loved ones.
At Employee Retention Benefits (ERB), we offer guaranteed issue insurance, an excellent option for employees who may not qualify or afford other types of coverage. This type of permanent, lifetime-long policy can help cover your employee's needs if anything happens that might affect an employee's care needs. ERB has been providing customized employee benefits programs to companies across the country. Our decades of expertise have helped us better understand your company's insurance needs and offer solutions that match your expectations, all while streamlining the process so it can be accomplished on an enterprise-wide scale.
If you're in the greater Los Angeles County area including Pasadena, Los Angeles, Riverside, Long Beach, San Bernardino, CA and beyond, contact our team to find out more about how we can help supply your employee with long-term care insurance. We look forward to learning more about your long-term care insurance needs!