Long-term care insurance helps protect employees savings and retirement plans against the high cost of custodial care due to conditions such as Alzheimer’s, strokes or other chronic illnesses – conditions that are not covered by employer-sponsored health plans or government programs.

Many serious health events are covered by Medicare or supplemental private health insurance policies. However, there is a large gap in most employees personal planning – the possibility of needing help due to the effects of aging or extended healthcare.

Conditions such as Alzheimer’s, Parkinson’s Disease, Stroke, or simply just getting older can lead to needing help with care. Care can take place at home, an assisted living facility, or a nursing home – and it can be expensive! Since Medicare won’t pay the costs, it has to be funded through savings, Medicaid, or long-term care insurance.

A long-term care insurance plan can’t prevent Alzheimer’s or other chronic conditions that result from disease or getting older. However, it can help the family tremendously at time of crisis, by offering access to a pool of money that can be used to pay for care. For employees who plan ahead and buy LTC coverage in their working years, they can typically buy comprehensive long-term care (LTC) coverage for around $100 per month.

If this is a benefit you may want to offer to your employees, Silver Shield Financial can help. Please contact us today to obtain a free quote and benefit package at no cost or obligation.