Health Care Reform Misses on Long Term Care

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Employers Can Provide Long-Term Care Insurance to Bridge the Gap Says EM-Power Services President

Doug Ross of EM-Power Services

Doug Ross, President EM-Power Services Inc.

We have a huge population that will need long-term care, and many are under the misperception that health or disability insurance will cover their care – it won’t.

The Supreme Court healthcare decision leaves a gaping hole for most Americans in their coverage: long-term care.

With 79 million baby boomers coming into retirement, and a growing incidence of obesity-driven diseases, long-term care needs are about to skyrocket in the U.S.

“We’re on the edge of a catastrophe”, said EM-Power Services long-time President Doug Ross. “We have a huge population that will need long-term care, and many are under the misperception that health or disability insurance will cover their care – it won’t.” The average cost for a skilled care facility is $222 a day (1) or over $80,000 per year. Long term care needs tend to average three years, totaling nearly $250,000.

“The Supreme Court ruling will cause many employers to review health insurance offerings in the months ahead. This makes it critical to consider adding long-term care insurance to protect future finances for employees,” noted Ross. Current data shows that 70% of the population will need long-term care and 40% of those will be before age 65.

“There is a direct impact between long-term care needs and a company’s bottom line,” noted Ross. “This coverage provides tools to help employers manage that”. The tools range from an Employee Assistance Program (EAP) type of service focused on long-term care, to providing funds for employees to help with costs related to care of a loved one. Said Ross, “the goal is help workers focus on work and remain productive.”

EM-Power Services provides turnkey enrollment and services for benefit advisors and employers. The company introduced a new “Bridge the Gap” service that helps employers evaluate options, educate employees, enroll workers, and gain full back-end support. “It makes the process very easy and uncomplicated, while providing access to the highest quality insurance protection,” said Ross.

The company has released a report for employers that clarifies long term care insurance, including how companies can make it available to their employees.

About EM-Power Services

Founded in 1996, EM-Power Services is a leader in worksite long term care insurance. EM-Power offers employers and benefit specialists a propriety web-based system for educating and enrolling worksite long-term care insurance with little to no employer cost. Join EM-Power’s next demonstration or contact Doug Ross at 855-759-9848.

(1) Genworth 2012 Cost of Care Survey

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