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Employer Advantages
of New York Group
Long Term Care
Insurance Coverage
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Health care legislation
makes qualified long term
care insurance policies
more tax advantageous for
both employers and
employees. Employers that
pay for long term care
insurance may be eligible
for favorable tax treatment.
The tax consequences vary
depending on the structure
of your business.
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1. Employer paid long term
care insurance premiums
for employee, spouse, and
retiree coverage may be
deducted as a business
expense.
2. Employers can cover
defined classes of workers,
making it possible to offer
the benefit to only higher
paid employees.
3. Employees with medical
and dental expenses
exceeding 7.5% of adjusted
gross income may be able
to also deduct eligible long
term care insurance
premiums they pay.
4. Premiums are not
classified as taxable income
to employees.
5. Benefits are not
considered taxable income
to the insureds or their
families (even if the
employer paid the
premium.)
6. Benefits are 100% tax
free to the employees
whether the employee or
the employer pays the
premium.
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914-276-6000
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800-498-1819
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Click link below to fill out a
New York Group Long Term
Care Insurance quote form.
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Direct Access Group Benefits, Inc.
© 2004, All Rights Reserved
© 2004, All Rights Reserved
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(914) 276-6000
(800) 498-1819 toll free
(914) 401-9319 fax
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189 Route 100
PO Box 590
Somers, New York 10589
Westchester County, NY
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Group Benefits
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Direct Access
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