Group Benefits

My employer group practice includes the design and implementation of employee benefit plans including health and life insurance, group disability, and voluntary plans. A majority of employees acquire all their benefits from the worksite. Providing knowledge about the value of offered benefits is so important. I love the educational aspect of employee benefits, whether it is written communication, in-person enrollment, webinars or group presentations.

The Washington Cares Act, a public LTC program, was enacted on 7/1/2023. Many WA employees opted out of the program by purchasing LTC insurance through their employer. More insurance carriers are offering LTC insurance plans to both large and small employer groups. Now there is a rapid expansion of insurance carriers offering life insurance plans with LTC benefits.

Why are these group LTC plans so important in the employer benefit space? There are currently 50 million caregivers in the U.S. and 1 in 3 working Americans are caregivers. We have a caregiving crisis in the workplace! Employees who are also caregivers are stressed, productivity is negatively affected, and many miss work, reduce hours or quit their job. Many group LTC insurance plans are life insurance products with LTC benefits. These plans can be offered to employees as a voluntary plan or ER paid plan. It is a valuable benefit to both attract and retain employees.

Here are some of the important benefits offered on many worksite LTC insurance plans —

• Competitive premiums and unisex rates
• LTC plans are fully portable
• Tax benefits for business owners
• Underwriting concessions
• Plans can be offered on a voluntary basis or employer paid
• Available to employee’s spouse
• Offer carve out plans to certain class of employees

Extra Benefits on worksite LTC insurance plans can include —

• Guaranteed Issue for certain size companies
• Extension of LTC benefits
• Inflation Protection
• Restoration of benefits

There are so many opportunities in the LTC insurance workplace. It is important for employers and brokers to work with a LTC Specialist who is experienced in the employer benefit field and is knowledgeable about all the different LTC group products in the marketplace. As a LTC Specialist, I design and implement worksite LTC benefit plans for employer groups. I encourage anyone interested in these plans to reach out to me for a conversation to discuss worksite LTC insurance plans. I can answer any questions and provide insurance plan options for your employer groups.

NABIP Leading Producer Round Table (LPRT) member
Lead webinars and onsite enrollment meetings for Fortune 500 company employees
Conduct onsite LTC educational meetings for large group LTC insurance carriers