Click here for IRS LTC Insurance Premium Deductibility.

Long-Term Care policies receive some of the most favorable tax treatment among employee benefits.

Long Term-Care premiums can be tax deductible

Depending on the type of business you have, premiums can be up to 100% tax deductible

Benefits received by the employee can be up to 100% tax free

Some states allow for Medicaid protection of assets when Long-Term Care policies meet certain criteria

Implementing a long-term care insurance program can be an important part of your strategy to recruit and retain the best talent … contain costs … and enhance employee productivity. For your employees, it can make a big difference in their quality of life and financial security.

Your company’s ability to attract and retain good talent is, in part, contingent upon a solid benefits package. Offering Group Long-Term Care Insurance as a benefit can be a way to set your company apart as a leader in employee benefits.

Research shows a cause-and-effect relationship between caregiver stress and increased health insurance utilization.1  The connection: employees providing care for family members incur stress, which often results in health conditions, which can result in increased doctor visits. That, of course, can impact health insurance premiums.

It’s clear that employee productivity and caregiving are interrelated:

When parents of employees have no long-term care insurance, they frequently rely more heavily on family (your employees) to provide care.
When employees become actively involved in caregiving for a spouse or parent, they may be forced to take time away from work. Reduced concentration, extra time off, workday interruptions all negatively influence productivity.

When employees’ productivity is compromised, the overall efficiency and profitability of the company is compromised.

Click here to request more information from a representative at Tucker & Shepley Benefits and Insurance.

1. MetLife Mature Market Institute, "The MetLife Juggling Act Study, Balancing Caregiving with Work and the Costs Involved," November 1999