Long Term Care Coverage

For care not generally covered by the basic HMO, PPO, or POS group health insurance, one supplemental program you can offer in your employee benefits is Long-Term Care Insurance. The option you choose will offer assistance for the cost of long-term care beyond a predetermined period of time. As this is generally not covered by other health insurance, Medicare or Medicaid, a long-term care insurance policy can help with employees are unable to perform the basic activities of daily living.

While individuals requiring long-term care are not sick in a traditional way they are unable to dress, bath, eat, walk or get in or out of bed by themselves. There are not age determining factors, however the majority of individuals receiving long-term care claims are over the age of 65, but close to 2 out of 5 long-term care claims are for individuals between the ages of 18 and 64. Some of the benefits of long-term care insurance include:

  • Financial assistance covering out-of-pocket expenses.
  • Premiums paid may be eligible for income tax deductions as benefits paid from a contract are generally excluded from income.
  • Business deductions of premiums are determined by business type. Corporations paying employee premiums may be 100% deductible if the premiums are not included in employee’s taxable income.

At Nevada West Business Insurance our expert agents will give you the employee benefits program you want for your employees. Our knowledgeable agents can custom tailor a long-term care insurance plan for your company and administer your solution.