Insurance Office of Central Ohio


 

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Long-Term Care

Despite its newness, it’s used more than any other kind of insurance – approximately one third of those who carry it end up using it. And, if you buy it and never have to use it? Then consider yourself lucky, count your blessings and know you did the right thing by being prepared. You did the impossible: you purchased peace of mind.
Charles R. Schwab, “You’re Fifty – Now What? Investing for the Second Half of Your Life”  (Crown Business, 2001).

Long-Term Care Insurance helps:

  • Maintain independence and freedom of choice over how and where care services are provided.
  • Protect financial assets and ensure that your long-term care needs will not create a physical or financial burden on your family.
  • Provide funds to help you cover long-term care costs in the same manner Health Insurance provides financial coverage for doctor's visits and hospital bills.   


Long-Term Care services are those services designed to assist someone who has lost some or all of the ability to care for himself or herself due to an illness, an accident, the frailty of aging, or for someone who developed Alzheimer's. Long-Term Care Insurance has been designed to pick up and provide coverage where Health Insurance leaves off.

Long-term care includes a wide range of services which can be provided in your home, in and through community resources, or in a formal setting such as a nursing home or assisted living facility.

When an individual's condition has progressed to the point where he or she requires constant supervision or assistance carrying out basic activities of daily living (like bathing, eating, toileting, dressing and moving about), Long-Term Care Insurance provides funds to help cover the expenses.

Did you know that there are important tax advantages to purchasing Long-Term Care Insurance?

  • Premiums are 100% tax deductible for corporations when paid by the business for employees, retirees, and their respective spouses
  • Benefits are tax free to the insured from qualified plans
  • Premiums are not considered income to the employees of C-corps, even though fully deducted by the corporation
  • Funds in Health Savings Accounts can be used to purchase funds, subject to premium guidelines