A Long-Term Care Insurance Program for Your Business AFN41627.

A Long-Term Care Insurance Programfor Your Business

AFN41627

Your Most Important Business Asset

What’s your most important business asset?

Your employees.

Your Employee Benefits Program

May help your employees:• Protect the lifestyle they live today

• Plan for a secure retirement

But does it address how to pay for long-term care services?

What is Long-Term Care?

Services for people who are unable to care for themselves.• Help with daily activities• Personal care services

What is Long-Term Care?

Long-term care services can be received:• At home• In an assisted living facility• In a nursing home

What Does it Cost?

Long-term care services can be expensive.• Home Health Aide - $19 per hour• Assisted Living Facility - $2,813 per month• Nursing Home (semi-private room) - $177 per day

Source: Mutual of Omaha’s Cost-of-Care Survey, 2008

Long-Term Care Insurance Policy Can Help

Provides funds to help your employees:• Get the care they need in the setting that’s right for them• Avoid the risk of depleting their retirement savings

Long-Term Care Insurance Makes Good Business Sense

It can help you:•Attract and retain quality employees•Enhance your company’s reputation as a place people want to work

•Build morale and develop a workforce of loyal employees

Long-Term Care Insurance Offers Tax Advantages*

Premiums may be tax deductible.

The information provided is not intended to be tax advice. Consult your tax advisor to determine the tax benefits for your business.*IRS Revenue Procedure 2008-66

Self-EmployedBusiness Owners• Sole Proprietor• Partnership• LLC• S Corporation

Premiums paid by the company for the owner, spouse and dependents may be tax deductible as a business expense

The deductible amount is based on eligible premium guidelines

Owners of C Corporations Premiums paid by the company for the owner/employee, a designated class of employees, spouse and dependents may be tax deductible as a business expense

The deductible amount is not subject to eligible premium guidelines

Long-Term Care Insurance Offers Tax Advantages

Benefits received are intended to be tax free as long as they do not exceed the greater of:• Qualified long-term care daily expenses

• The per-day limitation ($280 in 2009)*

*Internal Revenue Code 7702B

The Impact of a Long-Term Care Situation

When an employee needs long-term care, he or she may face:• A reduction in income due to the inability to work• Paying the high cost of long-term care services

When a family member needs long-term care, an employee may have to:• Miss work or decrease work hours• Take extended leaves of absence• Eliminate business trips• Pass up a promotion or new assignment• Give up the job entirely

Mutual Care at Work Can Help

It can help your employees:• Protect their retirement savings• Protect their extended family members – spouse,

parents, in-laws, adult children, siblings, grandparents and all step-equivalents

Mutual Care at Work

Here’s how it works:• You choose which employees you want to participate• You select how you want to fund the program• Employees have the convenience of purchasing

insurance at work• Premium rates generally are lower than if policies were

purchased on an individual basis• Coverage is available to extended family members• Coverage is portable – employees can take their policies

with them, even if they leave the company

Mutual Care at Work

We handle the details for you:• Employee notification• Informational meetings • Employee enrollment• Set-up of appropriate billing program for your business

Are you ready to get started?

Let’s build a Mutual Care at Work program for your business!• Coverage for businesses with 3 to 9 employees

• Coverage for businesses with 10 or more employees

Mutual Care at Work

Questions?

Long-term care insurance underwritten by Mutual of Omaha Insurance Company, Mutual of Omaha Plaza, Omaha, NE 68175.

This is a solicitation of insurance. Policy forms LTC09M-5ML, LTC09M-10ML (or state equivalent). In ID: LTC09M-5ML-ID, LTC09M-10ML-ID. In NY: LTC09M-5ML-NY, LTC09M-10ML-NY. In OK: LTC09M-5ML-OK, LTC09M-10ML-OK. In OR: LTC09M-5ML-OR, LTC09M-10ML-OR. In PA: LTC09M-5ML-PA, LTC09M-10ML-PA. In TX: LTC09M-5ML-TX, LTC09M-10ML-TX. In WA: LTC09M-5ML-WA, LTC09M-10ML-WA. These policies have exceptions, limitations and reductions. You may be contacted by telephone by an insurance agent.

Brent D. Gardner, CLU, ChFC(800) 680-5596 [email protected]