Long-Term Care insurance is designed to provide a benefit to you in the event you are unable perform at least two “daily activities of living” which are defined as bathing, dressing, toileting, transferring, continence, and eating without substantial assistance or severe cognitive impairment. The benefit is used to provide care at home, in a nursing home or in an assisted living facility. This coverage could provide your employees and their families with the security they need personally and financially.
A Health Savings Account is always coupled with a high-deductible medical plan. These accounts are used to offset the expenses incurred by the employee for healthcare expenses. Through employer and employee tax favored contributions you can save money in the account for future healthcare expenses. In addition, you may be able to increase the amount of your contributions through investment earnings.
This is an employer-funded health reimbursement arrangement that is used to pay for qualified healthcare expenses that the employee incurs. The employer decides on the amount of the contributions which are tax-favored. This account is usually coupled with a high-deductible group medical plan. High deductible health plans typically generate a savings in premium which allows the employer to successfully offer the health reimbursement arrangement.
Through supplemental programs an employer may enhance their benefit package. Voluntary programs offer additional protection to your employees and their families for specific family related concerns. By offering a menu of products to choose from your employees can manage their health care needs.
Through flexible spending programs employees may set aside pre-tax dollars to pay for healthcare and dependent care expenses. By contributing to a flexible spending program taxable income is lowered and spendable income is increased.
