More often than not, long-term care insurance is confusing and complicated for many to fully and completely understand. In fact, Long-term care insurance is often discussed for two minutes and typically glossed over. However, for many, this benefit is essential. Here is the information and myths associated with long-term care insurance to finally find out once and for all if long-term care insurance is good for you.
Long-Term Care Insurance As An Employee Benefit
There are a variety of employer-backed benefits that are available for employees. In fact, depending on the type of plans and packages employers have, there might be pricing discounts or payroll deductions that employees need to be aware of before they can make an informed decision on whether or not long-term care insurance is right for them.
The Confusion With Medicare And Medicaid And Long-Term Care
There is a lot of confusion surrounding medicare, medicaid, and long-term care insurance. In fact, medicare and medicaid will restrict employees’ choices of where and how they receive long-term care. As a result, leaning on medicare or medicaid will limit employees’ options when it comes to long-term care. Access for care is important to many employees depending on their stage of life which is why informing employees of all their options and including long-term care insurance as part of your voluntary benefits package can really do wonders for the morale of your employees.
Long-Term Care Is Too Expensive
This is probably one of the biggest myths associated with long-term care insurance. In fact, many plans can really be customized to meet personal budgets and all the potential care needs that apply to employees. It’s also really integral to know that all long-term care insurance rates are based on the ages of the employees themselves. The younger the employees are, the lower their rates will inevitably be.
Get Your Voluntary and Supplemental Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet the needs of all your employees. With over 17 years of experience, The MWE Partnerships is your one-stop shop for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, then contact us today! Also, be sure to like our Facebook page, follow us on Twitter, LinkedIn, and Google+ for all the latest voluntary benefit news!