FACT: MORE THAN 80% OF  YOUR KEY  TEAM MEMBERS WILL NEED LONG TERM CARE SOMETIME IN THE FUTURE

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Business Executive Long-Term Care

Many employers recognize the importance of a competitive employee benefits package.

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Employer paid long-term care (LTC) insurance, provided to selected employees, is a tax- favored benefit that can help a
firm recruit and retain those key individuals who play an instrumental role in a firm’s growth and success.

In General
Employer can discriminate: The employer is generally free to select which employees
are covered under the plan; the benefits are “carved –out” from those available to
rank and file employees.

Spouses and other dependents:

If desired, the plan can also cover spouses and other dependents.

Qualified LTC Insurance for Rank and File Employees

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Employer –100% deductibility of premiums:

Employer-paid premiums for qualified long-term care insurance for employees are generally deductible by the employer.

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Employees – premium payments will not be included in their annual income statement:

The premiums paid by an employer for qualified LTC insurance for an employee will not be included in the
employee’s taxable income.

Employee – deductibility of premiums: If the employee pays the premiums, the
deduction is generally limited to the amount (subject to the limits shown in the table
below) that, when combined with other qualified medical expenses, exceeds 7.5% of
the employee’s adjusted gross income (AGI).

For Further Information Please Contact:
Jan Levine, CEO/Founder
386.286.8013

Jan@GulfCoastFinancialResources.com