LONG TERM CARE: GROUP CONTRACTS

Long term care group contracts can be either employer paid or employer sponsored with voluntary contributions from the employees to cover all or part of the cost of premiums. It is the employer's choice as to who will be considered eligible for this benefit. Eligibility can be limited to employees only or can extend to any or all of the following: spouses, retirees and spouses, parents and parents-in-laws, grandparents and grandparents-in-law. Implementing a long term care group insurance program can be an important part of an employer's strategy to recruit and retain the best possible talent and to enhance productivity. It can make a big difference in the employee's quality of life and financial security.

Most long term care insurance policies pay benefits when long term care is prescribed by a physician as necessary or medically necessary or when one cannot take care of basic needs. Usually, policies cover all levels of care in state-licenses nursing homes. Many policies also cover assisted living situations and home health care.

Most policies contain a waiting period during which no benefits are paid. After the waiting period is satisified, the policy pays up to a maximum daily dollar amount, which is selected by the insured from the choices offered by the carrier for that particular policy. Should the cost of services exceed the maximum daily dollar amount of the policy, the insured must pay the difference. There is also a maximum lifetime benefit amount.

To receive a quote baseed on the needs of the group, please submit your information online or call us at 800-214-7039 to discuss your situation in greater detail.