| Aronow Insurance Agency, Inc. |
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| Aronow Insurance Agency, Inc. 3416 Olandwood Court, #209, Olney, MD 20832 Phone: 301-774-0175 Fax: 301-774-2099 |
Explanation of Coverage
LONG TERM CARE INSURANCE:
At home and in the workforce, long-term care is emerging as one of the critical
issues of our time, and employers have a key role to play through education.
Dealing with long-term care needs can be an emotionally and financially significant
life event. Almost a quarter of U.S. households -- 22 million --are already involved in
caring for a relative of friend who is 50 or older, according to the non-profit National
Alliance for Caregiving ("A federal case for LTC." Employee Benefit News,
01/01/03). These individuals, if currently working, may have little time available for
specialized care giving, and the additional responsibility.
Hidden impacts of care giving responsibilities could have an impact in the
workplace also, due to emergencies and phone calls, absenteeism, adjusted
schedules, increased need for time off, decreased willingness to relocate and
travel, and increased stress, which often may lead to employee health-related
problems and fatigue.
Long-term care insurance is one of the newest employee benefits being made
available to employees by businesses to attract and retain top performers, and is a
valuable addition to any benefits portfolio. Benefits can be offered selectively.
Employers may also determine different premium contribution levels for different
groups of employees, either employee pay all, on a cost-shared basis and/or
employer pay all. By extending coverage to family members, employers can make it
easier for workers to manage care giving responsibilities and remain productive on
the job.
Tax-qualified long-term care insurance occupies a special place in the tax code.
When an employer pays for coverage for employees, either for a selected group or
for all, the employer might be able to deduct the premium payments. This is a plan
that can be customized to fit an employer's specific criteria, and it might offer a tax
deduction for the employer without creating additional taxable income for the
employee. Business owners should consult a tax professional for information
related to their particular situation.
For more information on the potential benefits of long-term care insurance for your
company and your employees, please contact Jack Stern at 410-266-1392 or
spotstern@comcast.net
At home and in the workforce, long-term care is emerging as one of the critical
issues of our time, and employers have a key role to play through education.
Dealing with long-term care needs can be an emotionally and financially significant
life event. Almost a quarter of U.S. households -- 22 million --are already involved in
caring for a relative of friend who is 50 or older, according to the non-profit National
Alliance for Caregiving ("A federal case for LTC." Employee Benefit News,
01/01/03). These individuals, if currently working, may have little time available for
specialized care giving, and the additional responsibility.
Hidden impacts of care giving responsibilities could have an impact in the
workplace also, due to emergencies and phone calls, absenteeism, adjusted
schedules, increased need for time off, decreased willingness to relocate and
travel, and increased stress, which often may lead to employee health-related
problems and fatigue.
Long-term care insurance is one of the newest employee benefits being made
available to employees by businesses to attract and retain top performers, and is a
valuable addition to any benefits portfolio. Benefits can be offered selectively.
Employers may also determine different premium contribution levels for different
groups of employees, either employee pay all, on a cost-shared basis and/or
employer pay all. By extending coverage to family members, employers can make it
easier for workers to manage care giving responsibilities and remain productive on
the job.
Tax-qualified long-term care insurance occupies a special place in the tax code.
When an employer pays for coverage for employees, either for a selected group or
for all, the employer might be able to deduct the premium payments. This is a plan
that can be customized to fit an employer's specific criteria, and it might offer a tax
deduction for the employer without creating additional taxable income for the
employee. Business owners should consult a tax professional for information
related to their particular situation.
For more information on the potential benefits of long-term care insurance for your
company and your employees, please contact Jack Stern at 410-266-1392 or
spotstern@comcast.net
