With the enactment of the tax advantages
to encourage the purchase of long term care insurance and the Long Term Care Security
Act which will make private LTC insurance available to 20 million federal employees
in 2002, long term care insurance is an employee benefit whose time has come.
Unlike other types of health insurance, it can be offered on a discriminatory
basis to select employees such as managers, executives or owners. I think you
would be amazed at how affordable the coverage can be as compared to other types
of health coverage.
Your experience has shown you that it takes more than
a paycheck to attract and retain quality employees. Today, prospective employees
are looking for many things including excellent employee benefits. Expanding your
benefit package to include long-term care insurance could provide you a marketing
edge in attracting new employees and retaining existing employees.
Perhaps you are thinking, "Well, long-term care insurance may be important,
but it's insurance for older people and my employees are not that old". It
may surprise you to learn that 40 percent of all long-term care patients are under
age 65. 4
Offering LTC insurance to other
family members is important to keeping your employees productive. When we design
a program for your company, we can also include coverage for your employees' parents
and grandparents. When they need long-term care, your employees will have the
peace of mind of knowing that they will have the funds to help pay for the care
I hope what I have told you is helpful. If so, I have additional
information and ideas that I believe could prove valuable to you.