From HR professionals to benefit brokers, everyone seems to agree that there are a wide array of misconceptions associated with a specific voluntary benefit: long term care insurance. If you are sensing that employees aren’t interested in long-term care insurance, it might be time to educate them on what exactly long-term insurance means. Just because employees aren’t asking for long-term care insurance, doesn’t mean they don’t want it — it could just mean they don’t understand how it could help them. Here is why long-term care insurance should be a staple in any voluntary and supplemental benefits package.
Long-Term Care Insurance As An Employee Benefit
One thing that employees want is long-term care insurance — whether they know it or not. There are multiple voluntary and supplemental benefits that employers can provide their employees that would give employees some much needed additional coverage when it comes to their health and finances.
Is Long-Term Care Insurance Expensive?
Long-term care insurance is no more expensive than other voluntary and supplemental benefits available. Many plans can always be customized to meet personal budgets and any potential care needs. It is incredibly important to remember that rates will always be based on the age of employees. This means that the younger your employees are, the lower the rates of long-term care insurance will end up being.
Variety Of Long-Term Care Insurance Plans
One of the biggest misconceptions regarding long-term care insurance is that there is only one type of plan out there. This couldn’t be farther from the truth. It turns out; many policies will offer very flexible coverage options. That means that depending on the type of policy that employers choose, long-term care insurance will be able to cover a wide-sweeping range of care options. This may even include adult day care coverage as well as the potential to cover costs associated with home safety modifications.
Employees are looking for voluntary and supplemental benefits that will make a difference in their lives. The more options and customization features they have, the happier and more positive they will be about their job.
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!