Group LTC Benefits Blog

The Five W's of Group Long-Term Care Insurance


 W Flag.jpg

I won't bore you with statistics - longer lifespans = the need to plan for health care in our retirement years.  Long-Term Care services can be costly and LTC Insurance can help offset the financial risk to an employee's retirement plan. 

For an employer, here are the "why, who, what, when, where" of LTC planning.

1. Why Offer this Benefit?

  • Coverage helps employees protect retirement income & lifestyle
  • It's the "missing piece" of Financial Wellness or Retirement readiness programs
  • More and more employees are having personal experience with long-term care.

2. What are the Program Advantages for employers and employees?

3. Who Buys Group LTC Insurance? 

  • Employees between the ages of 40 - 65
  • Spouses or domestic partners of employees
  • Employees who participate in 401(k), 403(b) or other retirement plans.
  • People with household income of at least $60,000 per year

4. When is the best time to offer coverage?

  • Now, because retirement planning & health care is a growing concern for employees
  • Make sure to schedule voluntary enrollments apart from normal open enrollment to allow for more targeted education
  • Now, because LTCI is an emerging Voluntary and Executive Benefit.

5. Where should an employer or benefit broker look for help in finding a carrier and implementing a case?

  • Partner with firms who have a focus on Group LTC Insurance
  • Look for organizations who have a long-track record on implementing voluntary programs
  • Make sure the partner has a call-center of experts to assist employee plan selection
  • Look for innovative on-line decision support tools and content-based employee education


Want to learn more?  You can click on the button below to download a presentation on Group LTC Benefits or contact me at 608-807-2540, to learn more.

Download Presentation

Topics: Group LTCI,

Leave a Comment