Because long-term care is typically funded over many years and must be kept in place for the duration of one’s life, it is not a natural fit as an employee benefit. However, for owners or key employees that will, in all likelihood, remain with the company until retirement or beyond, company-sponsored long-term care insurance makes sense. Current tax laws give favorable treatment to company-funded long-term care insurance.
This article originally appeared in The Business Owner Journal, the periodical of choice for owners of small and midsize private businesses. All rights reserved, D.L. Perkins LLC. © 2012.
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