Your employees are your best assets, and protecting them and their families provides long-term benefits to your company. Lyman & Sheets has expertise in evaluating and designing new programs to assure your company’s financial health and the well-being of your employees.
LTC is the assistance, care or services a person requires when unable to perform basic activities of daily living: bathing, dressing, toileting, transferring, continence and eating. Care or services can be provided in the home, assisted-living facility, adult day care, nursing home and hospice. LTC is not simply nursing-home care for the elderly. Eighty-three percent of individuals with LTC need to reside in a community-based setting, usually one’s own home. Thirty-seven percent of individuals receiving LTC services today are under the age of 65. With more than 60 percent of all Americans turning 65 potentially requiring long-term care at some point in their lives, businesses that offer LTC add an extremely important coverage to their employee benefit package. Additionally, LTC premiums for corporation owners may be 100 percent deductible for the business, and employees may have LTC premiums deducted directly from their paychecks.