Many businesses offer specific types of benefits to their employees which span beyond traditional health insurance. These workplace benefits range from insurance to pay for long term care if needed to accident insurance to help pay bills if you are out of work due to an accident. Because these benefits are offered to a large group of employees, the cost can be better controlled, and the premiums are more affordable for the employees. Here are a few examples of typical work benefits and how they can be beneficial to employees.
Long Term Care Insurance
Admission into a skilled nursing facility or assisted living community can cost thousands of dollars per month. If that type of assistance is preferred at home, the costs can be even higher, and most families are unprepared to bare such financial burden. Long term care insurance will pay the expenses of a nursing home or assisted living at facility or at home, should that need and time ever come. If purchased early enough, the premiums are very affordable, and because they are a benefit often offered by the workplace, the premiums can be payroll deducted.