Baygroup Insurance

Maryland's premier Long-Term Care insurance agency

For Employers

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Long Term Care Insurance for your Employees

When your employees face the need for long term care they will encounter significant financial, physical, and emotional stress.

This can negatively impact productivity, increase absences at work and harm your employee’s overall well-being.

You value your employees.  You offer them, and their families benefits designed to ensure their good health and financial security. The one area you may not have addressed is helping your employees preserve their wealth today and into their retirement years if a long-term care event occurs.

Your employees may be in a “sandwich” or “club sandwich”, being squeezed on both sides by the added responsibility of caring for children and spouses, parents and grandparents.

This added pressure can lead to losing time from work, being less productive or concern about how they will pay for or obtain caregivers when they need it.  Proactive planning for long term care can assist with their possible roles as caregivers, and also protect them should they be the person needing care.

Long Term Care Insurance is a valuable benefit to help preserve your employees’ assets for their families’ and their own future. 

  • Help your employees prepare for a long term care situation by offering free education and an affordable, effective solution for coverage.
  • Long term care insurance pays benefits for care received at home, adult day care, assisted living, skilled nursing homes and hospice.
  • Protect your employee’s 401k balances, in the event they need long term care. Having retirement savings without long term care insurance protecting it is like owning a home without insuring it. 

Offering Long Term Care Plans can benefit your business:

  • Increase employee productivity and decrease time out of the office by providing long-term care coverage for their loved ones.
  • Retain valuable employees by helping the employees plan for their future in addition to offering a 401k or pension plan. 
  • Tax benefits for the employer provided long term care insurance (link to tax page)

Attract, reward and retain employees in an innovative way.

  • Policies are portable, enabling the employees to keep their policies in force after they leave your company. 
  • It is possible to offer this benefit only to key employees (executive carve-out) or other defined class such as their length of service, executive position, age, or defined role within the company. 
  • Flexibility to choose plan design
  • Lock in premium at a younger age
  • Policies can be paid-up in 10 years

Contact Baygroup Insurance about adding Long Term Care Insurance to your benefits. 

We can walk you through the options to add long term care insurance in your employee benefits package. Insurance can be through a voluntary, part employer paid or fully employer paid plan. We will review the possible tax advantages, simplified underwriting, and offer group discounts that are available to you.

We listen. We educate. We advocate.

Some questions you may want to consider:

How does long term care insurance provide benefits?

What is required for a voluntary group long term care insurance plan?

What are the tax benefits for an employer offering long term care insurance?

How many employees are needed for a group long term care insurance program?