Employees in all differently sized businesses are looking for a solution to the
problem of Long Term care. To meet the needs of both large and small companies,
insurance companies offer separate plans for each.
Interestingly enough, the largest growth in Long-Term Care benefits has come
first from smaller businesses. This may be because smaller firms make quick
decisions and notice the effects that Long-Term Care has on their employee’s
productivity more easily.
Insurance companies offer small business employers group benefits that usually
provide a payroll deduction of 10% - 15%. These group benefits may require a
minimum of three applicants and most maintain that all covered employee be in
reasonably good health.
Employees can still keep their policy even after their employment has
terminated.
Larger companies can purchase larger group long-term care. In contrast to their
smaller counterparts, large group plans allow coverage without checking on the
employee’s health. They ask only three questions.
Assuming the employee has truthfully answered no to those questions, they will
be covered. Some insurance companies will cover the employee’s spouse in the
same way.
Firms that offer this type of plan usually require a gross of 200 employees or
more.
