HR Insights


Make Long Term Care Part of the Employee Financial Wellness Discussion

Posted by Ginger Sullivan on May 16, 2016

Make Long Term Care Part of the Employee Financial Wellness Discussion | Ginger Sullivan | HR Insights blog by CareATC, Inc.With all the talk of physical wellness in the workplace, financial wellness gets little attention.

This is starting to change. Employees of all ages are concerned about making their salaries extend as far as possible.

Millennials may be trying to pay off their student loans, or buying their first homes. GenXers and Boomers may be eyeing their upcoming retirement, hoping to be fully prepared when the time comes to leave their careers behind for good.

One financial benefit that is rarely discussed is long term care. During retirement, more than 2/3 of those 65 and older will need long term care at some point.

Annual costs for long term facility and personal care can be more than $100,000. Long term care insurance is becoming a more common perk, handled alongside traditional retirement accounts like the employer-matched 401(k).

They are also portable, providing future security to workers, no matter where a career path might lead.

Read full article at BenefitsPRO.

Photo credit: AslanMedia via Foter / CC BY-NC-ND
Ginger Sullivan

About The Author

Ginger Sullivan

As CareATC's Recruiter, Ginger primarily focuses on recruiting top talent for our clinics and Corporate office. She also uses her creativity to help plan Corporate events.

Post Topics Benefits & Compensation