© 2018 Long Term Care Consultants

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"LTC Insurance easy to understand – it is when you work with the folks at Long Term Care Consultants. Linda and her staff are compassionate, patient and tailor a plan to help you meet your needs. And, as a business owner, I truly appreciated the respect shown to my staff to make sure that each employee understood their coverage and the cost."

Gail H. Howerton, CPA
Tax and Financial Services, LLC
Richmond, Virginia

Information For Employers About Long-Term Care Insurance

     Did you know that business owners can deduct the cost of Long-Term Care Insurance protection for themselves, their spouses and sometimes even their parents on a favorable basis?

     Simply, you are using pre-tax corporate dollars to pay for your post-retirement asset protection. Plus, this can be a valuable benefit to offer to selected key employees.

     It costs no more to work with an experienced long-term care professional. We can work with you and/or your insurance broker to help you get the coverage that's best suited for you and your business.


     Individuals who own businesses or derive self-employment income should consider the significant tax advantages of purchasing Long-Term Care Insurance protection through the business. Long-Term Care Insurance premiums may be paid from a Health Savings Account (HSA) up to the Federal annual limits allowed.

     You may qualify for "preferred rates" that Long-Term Care Insurance companies offer to individuals who are currently in good health. You'll save money because costs for Long-Term Care Insurance increase each year if you wait to buy when you're older. And, perhaps most important, 24 hours from now a change in your health could make it impossible to qualify for preferred Long-Term Care Insurance protection...at any price.

     Employees (non-owners) are not taxed on premiums for tax-qualified policies paid for by employers. Employers do not pay payroll taxes on amounts paid for Long-Term Care Insurance premiums. Benefits paid under a tax-qualified reimbursement policy are received income tax free by the individual.

     Business owners can offer Long-Term Care Insurance coverage to whomever they choose without risking the loss of deductibility for themselves. It is possible to create a bona fide class of select corporate employees that are eligible for this corporate-paid benefit (IRC Sec. 105/106 Medical Reimbursement Plan). Premium payments generally will be tax deductible when the class is based on such factors as officers of the corporation and length of service. Tax rulings have stipulated that the class cannot, however, be based on stock ownership. Consult a tax advisor for details.

     Preserve your post-retirement savings and assets using pre-tax corporate dollars. Ensure you have choice and control when you need it most. Recognizing that government can't pay the bill for Long-Term Care, federal and a growing number of state tax codes now offer tax incentives to encourage Americans to take personal responsibility for their future long-term care needs by utilizing Long-Term Care Insurance.