Most people are familiar with health insurance, but long-term care insurance is a less well-known type of coverage. As a result, many employees across the country can’t access the care they need. If you’re considering offering long-term care insurance to your employees as a benefit, it’s essential to understand what it covers — as this type of coverage can be vital in protecting your employees’ health and finances.
Long-term care insurance covers the costs of long-term care services, which can include in-home care, assisted living, and nursing home care. These services are generally required for people who have a chronic illness or disability that prevents them from being able to care for themselves through traditional medical options. Long-term care insurance can help cover the cost of these services, which can be very expensive. If you’re considering offering long-term care insurance, it’s vital to understand what types of services are covered and how much coverage you can provide as an employer. Every policy is different, so reading the fine print can go a long way.
Long-Term Care Insurance Provides Additional Coverage
Most individual health insurance plans don’t include long-term care, which can be costly. Long-term care insurance helps to cover the costs of custodial care, which helps with activities of daily living such as bathing, dressing, walking, and using the restroom. It can also cover skilled nursing care and home health care. Long-term care insurance can help to ease the financial burden on your employees’ families. It is crucial to consider long-term care insurance when you are planning for your retirement so that your employees can have peace of mind knowing they’ll be covered if you offer this specific type of care. Ultimately, long-term care insurance can help hedge against the financial risks associated with aging, ensuring that your employees can afford the care they need as they get older.
Offering Long-Term Care Insurance Helps You Stand Out as an Employer
Long-term care insurance provides a significant employee benefit that can create stability and financial protection in the event that an employee needs extended care due to a chronic illness or disability. Many employees are reluctant to purchase long-term care insurance on their own, so offering it as an employer-sponsored benefit can be an effective way to attract and retain top talent. In today’s competitive job market, benefits are a key component of a hiring decision. Providing long-term care insurance can make your company stand out.
Provide Best-In-Class Long-Term Care Insurance for Your Employees
At Employee Retention Benefits (ERB), we understand the importance of long-term care insurance for employers and employees. We offer comprehensive long-term care insurance plans that provide coverage for a wide range of services, including skilled nursing care, home health care, and more. We have decades of experience providing benefits for companies in the Pasadena, CA, area. Our team is dedicated to providing the best possible coverage for our clients by leveraging 129 carrier relationships and customized benefits packages. We work alongside our clients to implement long-term care insurance that helps your employees.
