Long-Term Care (LTC)

Home Group Benefits Long-Term Care (LTC)

Long-Term Care (LTC)

Long-term care provides the assistance a person may need during retirement age with the basic activities of daily living – eating, bathing, dressing, transferring, toileting, and continence. It can also include supervision needed to protect a person’s health and safety. The need for long term care may develop from things such as an accident, illness, stroke, advanced age or other chronic condition such as Alzheimer’s, dementia or Parkinson’s disease. Long term care consists mainly of personal care not medical care, personal care is not covered by a health plan.

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FAQ'S

What is Long-Term Care?

This is NOT a long-term disability. LTC comes into play when an individual loses 2 out of 6 activities of daily living (ADL). The policy will pay a set amount, predetermined by the amount of benefits purchased.

Can the benefit be paid to assist with home health care or does it have to be in a nursing home?

LTC can pay a predetermined amount for home health care or for care in a nursing home. These amounts can be the same, but typically, home care is a lower benefit than nursing home benefits.

How much does Long-Term Care coverage cost the employer?

The group premium is predicated on the composition of the group (age and gender). The premium is tax deductible to the employer and the benefit is tax-free to the employee.

Can the employee take the coverage when they leave?

Yes. Upon termination of employment, the employee can continue coverage by simply paying the premium directly to the provider

Group Medical

Of the group benefit plans an employer offers, health insurance is the most critical. Group health insurance plans typically cost less for its participants than individual plans, while offering the same benefits.

Group Dental

A group dental insurance plan protects employees from dental costs, including the expense of treatment and care of dental disease and accident to teeth.

Group Vision

A group vision insurance plan provides financial protection for policyholders paying a monthly fee in exchange for reduced-cost fee towards eye health and vision correction services and products.

Life Insurance

Group life insurance plans are offered by an employer or large-scale entity (i.e. associations or labor organizations) to its workers or members as a piece of a larger employer or membership benefit package.

Accidental Death and Dismemberment (AD&D)

Accidental Death and Dismemberment (AD&D) is a benefits policy that pays out its beneficiaries in the event of death or dismemberment due to an accident.

Short-Term Disability (STD)

Short-Term Disability (STD) is a supplemental insurance policy in which its participating members can be covered in the event of temporary disability (i.e. maternity leave) due to a non-work related sickness or injury.

Long-Term Disability (LTD)

Long-Term Disability (LTD) is a supplemental insurance policy in which its participating members can be covered in the event an employee is unable to work due to illness, injury or accident for a long period of time (taking effect after the STD period defined in the plan policy, these plans do not overlap).

Long-Term Care (LTC)

Long-Term Care (LTC) is a supplemental insurance policy in which its participating members can receive assistance in their retirement age.

Employee Assistance Program (EAP)

An Employee Assistance Program (EAP) is a voluntary, work-based program that offers free and confidential assessments, short-term counseling, referrals, and follow-up services to employees who have personal and/or work-related problems.

Pet Insurance

Pet Insurance provides its members with coverage for veterinary treatment.

Section 125 Cafeteria Plan

A Cafeteria Plan is an employee benefits program that takes advantage of Section 125 of the Internal Revenue Code. This includes Premium Only Plans and Flexible Spending Accounts (FSA).

Legal Services

Legal Services plays a key role in all business activities. With Legal Services, clients can access legal counsel and advice from qualified lawyers to consult on routine business law matters.

Consolidated Omnibus Budget Reconciliation Act (COBRA)

The Consolidated Omnibus Budget Reconciliation Act (COBRA) is a federal law that helps qualified beneficiaries to continue the same healthcare coverage employees had the day before they experienced a qualifying event.

Qualified Retirement Plan

A Qualified Retirement Plan is a financial arrangement designed to replace employment income upon retirement. These plans may be set up by employers, insurance companies, trade unions, the government, or other institutions.

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Long-Term Care (LTC)

Long-Term Care (LTC)

FAQ'S

What is Long-Term Care?

Can the benefit be paid to assist with home health care or does it have to be in a nursing home?

How much does Long-Term Care coverage cost the employer?

Can the employee take the coverage when they leave?

Group Medical

Group Dental

Group Vision

Life Insurance

Accidental Death and Dismemberment (AD&D)

Short-Term Disability (STD)

Long-Term Disability (LTD)

Long-Term Care (LTC)

Employee Assistance Program (EAP)

Pet Insurance

Section 125 Cafeteria Plan

Legal Services

Consolidated Omnibus Budget Reconciliation Act (COBRA)

Qualified Retirement Plan

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