Disability Income • Critical Illness Insurance • Long Term Care • Life Insurance

Long Term Care Insurance in the Workplace

Employers: Stand-alone Tax-Qualified long Term Care insurance offers premium deductibility and other tax advantages. As an Employer, you have total discretion as to who may be offered this valued coverage. It is an excellent fringe benefit and may be used to attract and retain valued and key employees.

How your business is organized for tax purposes will determine how premium deductibility is handled, particularly on the business owner.

A Triple Play - All employees, their spouses and dependents in all businesses Structures (including C-Corp Owners, spouses and dependents):

  1. Premiums are fully deductible to the business
  2. Premiums are not shown as income to the employee
  3. Benefits are received income tax free to allowed federal limits.
Employees: Stand-alone Tax-Qualified long Term Care insurance may also be available on a VOLUNTARY purchase basis. Employees may garner premium discounts when purchasing through an Employer sponsored plan. Employer contributions are not required. An Employer provided payroll deduction is all that is needed to start.

NOTE: Premiums on a Hybrid life/LTCi Rider policy are not tax deductible, except perhaps in some business situations, where an Executive Bonus, Section 162 may be possible. While the premiums may be deductible by the business, the insured must report these premiums as income. LTCi benefits would then be received income tax free, to the allowable limits.

Long Term Care Insurance
Long Term Care National Average Costs
Tax-Qualified "Stand-alone" Long Term Care Insurance
Hybrid Life/Long Term Care Rider Combinations
Plan Design Considerations
Elimination (Waiting) Period
Long Term Care insurance Partnership
Long Term Care Insurance in the Workplace
Paying for Care - Insuring the Risk
Paying for Care - Selling Your Life Policy
Paying for Care - Government and Personal Sources
State Filial Responsibility Laws
Long Term Care Insurance Disclaimers and Notes

There is no fee for my services

Paul SuPrise, CLU, LTCP
770 Nuangola Road • Mountain Top, PA 18707-9507
570-868-6871 • Fax 570-868-6872
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