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Long Term Care Options

Diane Forshee is a:

  • Certified Senior Advisor (CSA) www.society-csa.com and
  • Certified in Long Term Care (CLTC) www.ltc-cltc.com licensed in Arizona to offer various financial products tailored to the needs of her clients.
     

Diane's motivation to service her clients and address their need for
long-term care planning comes for personal experience for her as caregivers for her Aunt and Mother.

Diane is a firm believer that long-term care planning provides appropriate alternatives and affordable solutions that enable people to maintain independence, protect assets and prevent them from becoming a burden to others, especially their family members.

She knows first hand the financial and emotional burden incurred with long-term care and believes the costs of long-term care planning are basically two-fold: protecting a person's dignity and independence while ensuring their assets and legacy are protected.

Long-term care and how to plan for it; is a multi-generational issue, a work-place issue and a public policy issue. Through one-on-one presentations and group meetings, Diane educates people about how these issues can impact parents, children, grandchildren, employers and the workplace.

Our mission is to educate clients about long-term care planning. We believe that planning for long-term care expense is a critical component of overall financial planning, however Long Term Care insurance is not for everyone.

She is also a certified continuing education instructor and assists financial planners, attorneys, CPAs, insurance producers and other financial services professionals with training and educational seminars.

Partial List of Carriers: Genworth, John Hancock, Met Life, MedAmerica, Prudential, Genworth Life, West Coast Life, Mutual of Omaha.
 

Long-term care can offer big tax breaks for businesses

Whether the founder of a large corporation or the owner of a smaller operation, most business owners are interested in offering employees quality benefits at a reasonable price. Tax advantages can also make certain benefits even more attractive—to both you and your employees. One often-overlooked benefit - long-term care insurance - can offer substantial tax breaks while allowing you to provide much-needed coverage to your employees.

Long-term care is needed when an individual has become incapacitated due to an accident or illness. Major medical insurance and Medicare weren't designed to cover these types of expenses. But most individuals don't want to think about how long-term care could factor into retirement. According to the Center for Medicare and Medicaid Services, about 10 million people of all ages already need help with the basic tasks of daily living. And as the population continues to grow and age… that number is only going to increase.

Fortunately, many insurance companies are currently offering worksite long-term care insurance polices that are designed to be affordable for you and your employees. And, because most policies available today follow the guidelines set forth by the Health Insurance Portability and Accountability Act of 1996 (HIPAA), the premiums you pay should be eligible for a tax deduction.

No matter what type of business you own, C-Corporation, S-Corporation, sole proprietorship or a Limited Liability Corporation, business contributions toward long-term care insurance premium payments on tax-qualified policies are fully deductible as a reasonable and necessary business expense — much like your premiums for major medical. And your employees receive policy benefits tax free. And in most situations, business premium contributions will not inflate the employees' incomes.

Many states have followed the federal government's lead and are offering state tax credits or have proposed legislation that could be approved in the near future.

Check with your tax advisor to find out about your state. Under HIPAA, long-term care insurance polices are portable and can be used as a carve-out benefit, meaning you can offer coverage to only your key employees if you so choose.

The features available vary by policy, and it's important to shop around and consult with a specialist when selecting a worksite long-term care insurance product. Depending on who you offer the coverage to, you might select a higher benefit level and shorter waiting period (policy deductible) for key employees, and a more-affordable plan with a smaller benefit level and longer waiting period for the majority of your workforce. You can even select a policy that can be paid up in a certain amount of time, 10 years for instance, to encourage top staff members to stay with your company.

Whatever option you choose, the key is to offer quality, affordable coverage. Not only will you be working to attract and retain key employees, you're also enabling them to keep their independence in older age by extending to them the ability to choose for themselves where they will receive care. And, with the current tax advantages available, there's never been a better time to act.

To get more information please contact us!
 

 
CONTACT DIANE:
(480) 782-1630
Cell:  (602) 295-4808
Fax:  (480) 782-1642
 

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Phone:  (480) 782-1630  |    Cell:    (602) 295-4808  |      Fax:    (480) 782-1642