It’s really something else when we hear about people who pine away all their lives with hard work and savings, just to have it all wiped out with a single accident or illness. It’s especially tough when it happens to one of your employees; someone who devoted his or her energies into making your company successful and winds up falling through the health-care cracks due to lack of knowledge or the right coverage choices.
The biggest financial surprise hard-working Americans run into is the lack of coverage they thought they had, where they thought there was enough. It used to be nothing could fix this, but now corporations are learning about this gap and the choices they have to help their employees bridge their coverage. I’m not talking about raising the coverage amounts on traditional health insurance, I’m talking about reading the fine print in your company’s current offerings and learning where the gaping holes in coverage appear.
In what ways does the lack of long-term care coverage hurt working Americans?
Your employees may become impoverished when they must use their savings, equity, and retirement funds to pay for long-term care service fees they thought they were insured against.
Family members and loved ones must often significantly alter their lifestyles, curtail their careers, and carry the physical and emotional weight of caring for a sick, hurt, or disabled family member. They are also financially impacted when household funds are re-allocated for care.
Once a person has used all of his or her available financial resources, he or she will likely have to rely upon government assistance to continue care. In most instance, this means moving to a nursing home facility or institution instead of receiving in-home care.
Does your company have systems in place to address your employees’ long-term financial and health care needs? Does it include long-term care options?
Click to request a 15-minute briefing on long-term care and how it can benefit your Company. For more information call 800-483-1115 and speak with Doug Ross.
Tags: Assisted living, Class Act, Class Program, Community living Services and Supports Act, Education for long-term care, Employee benefits, Employee recruiting strategies, Employee retention strategies, Employer sponsored benefits, Executive benefits, Federal long-term care legislation, Federal long-term care plan, Financial planning, Government long-term care insurance benefits, group long term care, group long term care insurance, Home health care, long term care insurance, long term care insurance companies, long term care insurance plan, long term care insurance quote, Long-term care, Long-term care education, Long-term care insurance tax advantages, Long-term care planning strategies, LTC, LTCI, Nursing home insurance, Opt out long-term care insurance, Paying for assisted living, Paying for home health care, Paying for nursing homes, Tax advantages of long-term care planning, Voluntary long-term care insurance, Wealth preservation | Filed under: worksite Long Term Care | No Comments »
Or call our toll-free number:
1-800-483-1115