A LTC Executive Carve-Out brings customized long-term care insurance to your partners or other key employees and provides tax advantages to your firm.
By establishing predetermined criteria for these benefits, you are able to legally segment a class of employees eligible to have long-term care insurance premiums paid by the firm.
Benefits for partners/key employees
Benefits for Firms/Employers
For more information regarding Long Term Care options for your firm, contact:
333 S. 7th Street
Minneapolis, MN 55402
If you are looking for more information about individual Long Term Care Insurance, please call 1-800-501-5776.
Why would my firm want to offer Long Term Care Executive Carve-Out?
Higher pay is not the only answer to compensation issues inside a law firm. Supplemental benefit programs can be an effective way to create added value for firms to recruit, reward and retain the top talent of the firm, while gaining a tax advantage for your firm: 100% of the premiums paid for employees and their spouses can be deducted, according to IRC, Section 162.
What are the benefits to our firm?
In addition to receiving a 100% tax deduction on premiums paid for employees and their spouses, an LTC Executive Carve-Out offers your firm the flexibility to reward top partners/key employees.
Why would our key partners be interested in a Long Term Care Executive Carve-Out?
Research shows that most people are not prepared to cover the rising costs of long term care—or manage the complex details associated with long-term care.
Your top partners or other key employees have savings, assets and other wealth that will need protection from potential long term care costs. The LTC Executive Carve-Out helps preserve their retirement plan and other assets, while offering portable coverage and favorable tax treatment.
What is the Health Care Advocacy Benefit?
With the Mercer Consumer LTC Executive Carve-Out, your partners and other key employees will have access to a Health Care Advocacy Team, who will help them make decisions about their health and welfare. The Team consists of nurses who can answer questions and assist in choosing how and where your employees will receive long term care services if and when the need arises. This Team gives them peace of mind knowing other family members won’t have to worry about making decisions for their care.