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Topic:
Group Long Term Care Insurance
Date:
November 8, 2012 at 3:00 - 4:00 PM ETPresenters:
Aaron Skloff, Financial Advisor(Skloff Financial Group)
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Description
Presentation Intended for U.S. Audience: According to the U.S. Department of Health and Human Services, 7 in 10 people who reach age 65 will need some long term care during their lives. One year in a nursing facility can cost over $100,000 per year if the care were needed in 2012. If costs continue rising at their historical 5% rate, they will more than double every 15 years. Long Term Care Insurance pays for care in the care recipient's home, an assisted living facility or a nursing facility. Long Term Care Insurance can be purchased solely by employees or through a combination of employee and employer contributions.
Long term care situations can result from: • Injuries caused by accidents • Illnesses like MS • Diseases like Alzheimer’s or Parkinson’s • Strokes and other chronic conditions. Premiums paid by the employer can be expensed in part or in full, depending upon the type of business entity registration. Most policies meet the IRS definition of tax qualified - a requirement to gain federal and state tax advantages. The new Partnership Program Long Term Care Insurance policies allow policyholders to protect assets away from Medicaid without a 'look-back' period. Forward-thinking employers offering Group Long Term Care Insurance enhance your ability to: • Retain and attract valuable employees with a contemporary LTCI benefit program • Improve productivity and minimize absenteeism for employees as caregivers • Receive potential tax advantages. • When offered as part of your benefits package, LTCI provides employees with a secure way to help: • Protect their savings and assets • Protect their family and friends from the burden of caregiving • Protect their ability to choose where care is received. |
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Who Should Participate
U.S. Benefits Executives
What You Will Learn
Recommended Resources
www.skloff.com Click here Communities
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