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Long-Term Care Insurance

Long-term care insurance is coverage that pays for nursing home care, home health care, and personal or adult daycare for individuals who are at least age 65 or who have a chronic or disabling condition that needs constant supervision. Long-term care insurance (LTC) is the best option for many seniors because it offers more flexibility and options than Medicaid.

Long-term care insurance is different than traditional health insurance. You can use it for things such as personal and custodial care in a variety of settings, such as your home, a community organization, or another facility.

Comprehensive Benefits Package As a Retention Strategy

Long-term care insurance should be offered as an employee benefit in order to attract and retain top employees, to contain health care costs, and to increase employee productivity.

Retirement savings plans and healthcare coverage may no longer be sufficient to guarantee a secure and comfortable retirement. Buying or offering an investment in long-term care insurance could be an effective way for your company to offer a complete benefits package to attract and retain key employees.

Filling the Gaps in Your Health Insurance

While health insurance does cover medical bills, it often leaves people paying for many expenses out of pocket if they have a degenerative condition or are unable to manage daily life.

Long-term care insurance policies are designed to cover costs for services such as home care, day care, nursing homes, and respite care. Most of these services aren’t covered by Medicaid, and Medicaid is usually only available to people who have already spent most of their assets.

Create a Long-term Care Plan That Is Unique to Your Business

There are some key differences between long-term care insurance plans that make them so appealing to consumers looking to protect their assets and future care needs.

Because of this, your business should take expert advice to find a plan that meets your budget and still offers adequate coverage for your employees.

Tanya Garza Insurance Advisors are ready to help you determine whether or not long-term care insurance is a necessary part of your business employee benefits package. Contact Us to Get a Free Quote Now.