Long-Term Care | David Martin Agency

Long-term care (LTC) plans are fast becoming a valued employer-sponsored benefit. The costs of long-term care services are increasing and continue to pose a serious threat to anyone seeking to preserve their assets. For example, a private nursing home room rate in 2008 averaged $217/day ($79,205/year). Home health care hourly rates now average $21/hour. The average cost for assisted living facilities in 2008 was over $100/day ($3,241/month).

Even though employees may be insured by healthcare plans, supplements, or Medicare, these benefits are designed to cover skilled care, not custodial care. Disability income plans are designed to replace lost income. Only LTC policies cover long-term care expenses.

We can work with you to prepare a detailed LTC proposal for any group of 3 or more employees. We seek bids from multiple carriers and prepare results based on:

Employer Paid Plans (carve-out, defined contribution, 100% employer paid)
Voluntary Plans (100% voluntary or partial employer contribution)
Combination Plans (a base carve-out and 100% employee paid)

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