Group LTC Benefits Blog

The next big trend... Long-term care planning in financial wellness

BAML_financial_wellness

Many companies today are beginning to feel a sense of responsibility for the financial wellness of their employees, impacting the benefits they offer, according to the latest Bank of America Merrill Lynch Workplace Benefits Report. 

We've noticed this industry trend where employers are addressing retirement planning issues such as financial wellness or retirement readiness with their employees.  As employees begin to take more ownership over their retirement preparation, they also need to think about protecting it from the devastating risk associated with a health care crises.  Group long-term care insurance (LTCI) solutions (standalone or group life with LTC/chronic illness riders) can help address these concerns and round out a comprehensive benefits program. 

Employers looking to expand and rethink their benefits offerings can start by looking at their benefits holistically — not in silos.  Re-positioning grop long-term care insurance as part of an overall wellness program (health and wealth) makes sense -- think about it as 401(k) insurance & lifestyle protection coverage .

I believe financial wellness is here to stay and will become a new normal within the workplace to help employees in their active employment and retirement years.  If you're intereated in the full Bank of America Merrill Lynch Workplace Benefits Report, click here to download.

 

Topics: Employee Benefits, Financial Wellness

Written by Trina Brown

Trina Brown is a business development lead for employee and executive long-term care solutions at LTCI Partners, LLC, one of the nation’s largest Long-Term Care Insurance (LTCI) retail and wholesale brokerage enterprises. Trina graduated from Florida State University, where she received a BS in International Finance. After graduation, Trina remained countryside and accepted a position to launch Capital Administrative Services, Inc. (CAS), a new third party administrator for employee benefits out of Tallahassee, Florida, and served as Executive Director and Board Vice President until 2012. During Trina’s tenure with CAS she procured voluntary benefits for over 110,000 state employees and helped secure CAS as a leader for employee benefits and individual life insurance planning in the State of Florida. Trina’s determination to enhance the awareness for long-term care planning resulted from her dual role where she served as Director of Long-Term Care for Capital’s sales agency and worked in tandem with Capital’s Regional Vice President’s to develop and implement retail product and sales training for agents. Now for over a decade, Trina has had the pleasure of helping brokers, advisors and consumers find a long-term care solution and she understands the challenges in starting a dialogue about this type of planning. Whether serving consumers directly, or supporting professionals who do, Trina is committed to providing LTC awareness and peace of mind so that more Americans have a plan in place to protect their family’s well-being, retirement income and comfortable lifestyle in those “Golden Years.” Trina is a member of the National Association of Insurance and Financial Advisors (NAIFA) and shares the passion to protect the business of insurance and financial services. Trina served as former President Elect of the NAIFA Tallahassee and current First Vice President and Membership Chair for NAIFA Chicago, where she also lives downtown in the River North area.

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