KIRKLAND, Wash. - July 2 (SEND2PRESS NEWSWIRE) -- Most American companies provide health and other benefits including retirement savings programs. But many employees may not enjoy their retirement for long. "When they or a family member encounter a long term care need, it can eat into their 401K's fast," says Mario Sestito, MultiLife Specialist for LTC Financial Partners LLC. "There's a gap in benefits packages. A lot of people don't make the connection that long term care insurance is effectively 401K and retirement protection." With today's longer life spans and millions of employees nearing retirement, "the exposure is huge."
To help solve the problem, Sestito's organization introduced a new consulting service at the SHRM 59th Annual Conference and Exposition, the latest get-together of the Society for Human Resource Management (SHRM), held in Las Vegas, Nevada, June 24-27, and attended by 22,000 members. Called Long Term Healthcare Benefits Consulting, the service guides companies, helping them determine the most effective way of plugging the long term care gap without necessarily adding to benefits budgets. "In fact," says Sestito, "a properly-run benefits program can actually save money for the organization."
It can do this by --
* Introducing appropriate benefit cost sharing
* Offsetting rising healthcare costs
* Reducing attrition
* Increasing productivity
"At the conference, we couldn't hand out our information packets fast enough," says Eric Shaw, Business Relations Specialist for LTC Financial Partners. "With national media highlighting the importance of long term care planning, particularly USA Today this past week, human resource managers were eager to educate themselves on how to respond to this growing employee need."
Copies of the information packet may be requested at www.ltcfp.us/long-term-health-care-consulting or by calling 866-471-4072, extension 118. The consulting program is appropriate for companies of all sizes.
LTC Financial Partners collaborates with traditional benefits consultants including CUNDY Employee Benefits Consulting of Fort Lauderdale, Florida; Mercer Human Resources Consulting of New York, New York; and AJ Gallagher of Itasca, Illinois.