Category Archives: featured

The Long-Term Care Crisis: Why Planning Today Protects Your Future

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Woman Helping an Elderly Man in Doing Exercise

The Growing Need for Long-Term Care Planning

Most people don’t think about long-term care (LTC) until they or a loved one need it. By then, options are limited, and costs can be overwhelming. With Americans living longer than ever, the need for long-term care is becoming a reality for more families. Yet, most are unprepared.

Consider this:

  • 7 out of 10 people over age 65 will require long-term care at some point.
  • The average cost of a private room in a nursing home exceeds $100,000 per year, and home health care services can cost thousands per month.
  • Medicare doesn’t cover most long-term care expenses, leaving many individuals to pay out of pocket or rely on Medicaid, which has strict asset limits.

With these staggering statistics, the question isn’t if you’ll need care—it’s whether you’ve planned for it.

The Real Costs of Long-Term Care

Long-term care isn’t just about nursing homes. It includes:

✓ Home Care – Caregivers assisting with daily activities like bathing, dressing, and meal prep.
✓ Assisted Living – Facilities providing personal care, meals, and social activities.
✓ Nursing Homes – Skilled care for individuals with serious health conditions.
✓ Memory Care – Specialized services for those with dementia or Alzheimer’s.

Who pays? Without insurance, individuals must fund their own care, which can drain retirement savings rapidly. Medicaid covers LTC but only after spending down assets.

Long-Term Care Insurance: Is It Right for You?

Long-term care insurance (LTCI) helps cover these costs and preserves financial security. However, it’s not a one-size-fits-all solution. Here are some key considerations:

  • Premium Costs – LTCI premiums vary based on age, health, and coverage choices. Buying early (in your 50s or early 60s) locks in lower rates.
  • Hybrid Policies – These combine life insurance or annuities with LTC benefits, allowing you to use the funds for care or leave a death benefit if unused.
  • State-Sponsored Programs – Some states (like Washington and California) are exploring mandatory LTC tax programs, making private insurance even more attractive.

Long-Term Care Benefits as an Employee Perk

Why More Employers Are Offering LTCI

With the increasing costs of long-term care and a growing awareness of financial planning, employers—especially small businesses—are adding long-term care insurance to their benefits package.

  • Competitive Edge – Employers offering LTCI can stand out in today’s competitive job market, helping attract and retain top talent.
  • Low-Cost, High-Value Benefit – Unlike traditional health insurance, LTCI policies can be offered at little to no direct cost to employers, with employees paying premiums through payroll deductions.
  • Tax Advantages – Businesses may qualify for tax incentives when offering LTCI to employees.

Small Employers Can Now Compete

Historically, long-term care insurance was seen as a benefit only for large corporations. But today, even small businesses can provide this essential coverage through group LTCI policies or voluntary enrollment plans.

  • Employers can negotiate better rates and simplified underwriting, making it easier for employees to qualify.
  • Coverage can be extended to spouses, parents, and even in-laws, making it an attractive family-oriented benefit.
  • With state-mandated LTC programs on the rise, offering private LTC insurance may help employees avoid state-imposed payroll taxes.

For business owners, providing long-term care insurance isn’t just a perk—it’s a way to protect your employees, their families, and your company’s bottom line.

The PERFECT Long Term Care Solution

 So, imagine, if, by implementing ONE strategic product, you could eliminate one of life’s biggest uncertaines, one of life’s biggest What-IF’s?

Enter the PERFECT LTC plan – from CorpStrat. Its pretty amazing. Create a robust pool of care for either individuals, or couples. Can be funded at one-lump sum or over time. Everything about it is guaranteed!

Either one of three things can happen if you act on this:

  • You get sick and use this plan, and it will PAY A MONTHLY BENEFIT to pay for care to you for as long as you (and your spouse) live.
  • You quit this plan along the way, because something better comes along, like a new product or strategy is unveiled, and you recapture most (or all) of your outlay. (NOT an EXPENSE – its an ASSET!)
  • You live a long healthy life and never use or need care, in which case the policy pays a large death benefit to your heirs, tax-free.

No one knows what the future holds, but having a plan ensures that you and your family have choices, dignity, and financial stability when it matters most.

Want to Learn More?

If you’re an individual looking for coverage, or a business owner exploring LTC insurance as an employee benefit, let’s talk!

Did Trump Just Help or Hurt Employer-Based Health Plans?

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nurse and doctor discussing with patient

Healthcare in the U.S. remains a hot-button issue, and recent decisions under the Trump administration continue to spark debates, particularly regarding their impact on employer-based health plans. While the administration emphasized flexibility and cost-savings in healthcare, many of its policies raised concerns about long-term stability and access to affordable coverage.

Here’s a breakdown of key developments and their potential impact on employer-based health plans and the broader healthcare landscape:

24 Million Americans Face Medicaid Jeopardy

One of the most significant challenges looming over the healthcare system is the potential loss of Medicaid coverage for millions of Americans. Temporary Medicaid expansions during the pandemic helped many low-income families access critical care. However, with the expiration of pandemic-era protections, 24 million Americans could lose their Medicaid coverage, potentially leading to an increase in uninsured individuals and shifting healthcare costs to employers and hospitals.

For businesses, this could mean more employees seeking coverage through workplace-sponsored plans, potentially straining budgets and increasing premiums. Employers will need to evaluate how these shifts may affect their benefits offerings and their role in supporting employees.

Short-Term and Limited Benefit Health Plans: Help or Harm?

The Trump administration expanded the availability of short-term health plans, which are cheaper and exempt from ACA requirements. While this provides a low-cost alternative for individuals between jobs or ineligible for employer plans, it also comes with significant downsides:

  • Limited Coverage: These plans do not cover essential benefits like mental health, maternity care, or pre-existing conditions.
  • Risk to the ACA Marketplace: By attracting healthier individuals, short-term plans can destabilize ACA-compliant marketplaces, driving up premiums for those who remain.

For employers, these plans may tempt some employees to opt out of comprehensive group coverage, potentially weakening risk pools and increasing costs for those who remain in employer-sponsored plans.

Impact on Public Health Infrastructure

Withdrawal from the WHO

The Trump administration’s decision to withdraw from the World Health Organization (WHO) raised concerns about America’s role in global health. This move could undermine international efforts to address pandemics and public health crises, indirectly affecting the U.S. workforce if future global health challenges are not properly managed.

CDC Policy Changes

Policy shifts and potential closures of certain CDC programs may also weaken the country’s public health infrastructure. Reduced federal support for pandemic preparedness or chronic disease prevention could lead to higher healthcare costs for employers and employees alike.

For businesses, this underscores the importance of offering robust wellness programs and health coverage to mitigate the long-term risks of an overburdened healthcare system.

The Bottom Line for Employers

The Trump administration’s healthcare policies have introduced both opportunities and challenges for employer-based health plans. While short-term health plans and deregulation aim to reduce costs, the risks of destabilizing ACA markets, shrinking Medicaid coverage, and weakening public health infrastructure could lead to increased financial and operational burdens for employers.

What Can Employers Do?

  1. Monitor Medicaid Changes: Be prepared for potential impacts on employee benefits as more individuals may turn to employer plans.
  2. Educate Employees: Help employees understand the risks of short-term health plans and the value of employer-sponsored benefits.
  3. Focus on Wellness: Strengthen workplace wellness initiatives to help employees manage health proactively amid public health uncertainties.

Navigating these shifts requires a proactive approach. Employers must remain informed and flexible to address changes in the healthcare landscape while continuing to support their workforce.

Need help designing a benefits strategy in this uncertain environment? Let’s talk!

Helping Employees During Los Angeles Wildfires

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firefighter

The following is intended to help employers support their employees impacted by the Los Angeles fires. Please consult with your tax advisor for further guidance.

The wildfires ravaging various parts of Los Angeles County are truly tragic and expected to cost more than $50 billion in damages, making it the most expensive natural disaster ever in the United States. For employers with employees in the impacted areas, there are several ways to help.

First, an employer may provide disaster assistance payments under IRC section 139 on a tax-free basis:

  1. to reimburse or pay reasonable and necessary personal, family, living, or funeral expenses incurred as a result of a qualified disaster.
  2. to reimburse or pay reasonable and necessary expenses incurred for the repair or rehabilitation of a personal residence or repair or replacement of its contents to the extent that the need for such repair, rehabilitation, or replacement is attributable to a qualified disaster.

Thus, employers can pay for hotel stays, money for food and clothing, or even to help repair homes damaged or destroyed by the fires. There is no limit on such payments, meaning employers can determine how much assistance to provide those affected.

Second, employers can create a leave-sharing program for employees impacted by disasters. Under a leave-sharing program, employees donate accrued but unused leave to employees who have exhausted their leave. For the donation to be tax exempt to the donor, an employer-sponsored leave-sharing program must comport with the following requirements:

  1. The plan must allow a leave donor to deposit unused, accrued leave in an employer-sponsored leave bank for the benefit of other employees who have been adversely affected by a major disaster. An employee is considered adversely affected if the disaster has caused severe hardship to the employee or family member that requires the employee to be absent from work.
  2. The plan does not allow a donor to specify a particular recipient of their donated leave.
  3. The amount of leave donated in a year may not exceed the maximum amount of leave that an employee normally accrues during that year.
  4. A leave recipient may receive paid leave from the leave bank at the recipient’s normal compensation rate.
  5. The plan must provide a reasonable limit on the period of time after the disaster has occurred, during which leave may be donated and received from the leave bank, based on the severity of the disaster.
  6. A recipient may not receive cash in lieu of using the paid leave received.
  7. The employer must make a reasonable determination of the amount of leave a recipient may receive.
  8. Leave deposited on account of a particular disaster may be used only by those employees affected by that particular disaster. In addition, any donated leave that has not been used by recipients by the end of the specified time must be returned to the donor within a reasonable time so that the donor may use the leave, except in the event the amount is so small as to make accounting for it unreasonable or impractical. The amount of leave returned must be in the same proportion to the leave donated.

The IRS does not allow special tax treatment for major disaster leave-sharing plans that do not comply with the above requirements. For example, the IRS rejected special tax treatment for an employer-sponsored leave-sharing program that allowed employees to draw from its leave bank in the event of a “catastrophic casualty loss.” Under the program rejected by the IRS, employees were allowed to donate hours of paid leave for the benefit of an employee who experienced severe damage to or destruction of their primary residence that required immediate action by the employee to secure the residence or to those who were affected by a terrorist attack, natural disaster, or public health crisis. The IRS determined that a “catastrophic casualty loss” was too broad to be permitted as an eligible medical emergency plan since the plan may or may not involve a personal or family medical emergency. The IRS also found that the plan was outside the scope of an eligible major disaster leave-sharing plan because the plan was not “designed to be limited specifically to aid the victims of a ‘major disaster’ as declared by the President of the United States.”

Other resources may also be available. For example, employers might consider reminding employees about EAP programs or other benefits that are available to them should they be struggling with mental health issues relating to the stress of the wildfires. And of course, simply checking up on employees to ensure they are safe is always a good idea.

Health Insurance Resources for Those Affected by the California Fires 2025

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patient getting eye exam

Affected by the SoCal Fires? Here is how CorpStrat can help:

CorpStrat is working with employers and employees to share how health insurance companies are helping those affected by the fires.

Reach us if we can help you in any way. Insurance carriers have staffed hotlines to help.

  • Prescription Refills: Members in mandatory evacuation zones may receive immediate refills of their prescriptions, even if they are not yet due for a refill.
  • Mental Health Support: Carriers’ mental health service administrators provide free access to resources, materials, and counseling services.
  • Vision Plan Assistance: Vision plan members in affected areas who have lost or broken eyewear may be eligible for replacement lenses and/or frames – bypassing any annual limits.
  • Member Identification (ID) Card Replacement: If members have lost their ID cards they can be replaced immediately online or by calling client services.
  • Virtual Care Options: Members can access various telehealth services offered by carriers.

Additionally, if you or someone you know has been affected by the fires, and is covered by Anthem Blue Cross, please read the below from Anthem:

We hope this message finds you and your loved ones safe and well. Our thoughts are with all those affected by the devastating fires in Southern California.

In these challenging times, the health and safety of our community is our utmost priority. We want to assure you that we are committed to providing the necessary support and resources to help navigate this state of emergency.

Our team is working diligently to ensure that our members receive the assistance they need, and we stand ready to support you in any way we can.

We’re making temporary changes to health plan benefits to provide relief and ensure healthcare access for our members who live in Los Angeles and Ventura counties in California and are impacted by the Palisades wildfire and windstorm conditions.

The changes are in effect January 7th through February 5th, 2025.

The changes also apply to emergency responders who have been activated to the impacted area by their state or local agency, but who do not live in the impacted area.

For assistance during this emergency, please call us at 833-285-4030

We are here to help make sure you have access to the healthcare you need. We can help with finding available doctors, refilling prescription drugs, and other health plan questions.

We’re available by phone Monday through Friday, 8 a.m. to 6 p.m. PT.

Receiving care during the emergency

  • You can receive care from any doctor or hospital, even if they are not in your plan’s network. We will cover the claims as if they are in your plan’s network.
  • If your doctor’s office or healthcare facility is closed because of the emergency, or if you are unable to travel there, call us at 833-285-4030. We can help you find another doctor.
  • If you’re in a care management program and need to reach them, the contact number is 833-285-4030.

Prescription drug refills

  • If your Anthem plan covers your prescription medicines, you can receive up to a 30-day emergency refill at any pharmacy now, even if it’s not in your plan’s network.
  • If you use Anthem’s home delivery pharmacy and your address changed, call us at 833-285-4030 so we can make sure to send your medicine to the right place.

Medical equipment that is lost or damaged

  • We can help you replace your equipment (also called durable medical equipment or DME). Call us at 833-285-4030.

Eyeglasses or contact lenses that are lost or damaged

  • We can help you replace your eyeglasses or contact lenses.

Call us at 833-285-4030.

Preapprovals or referrals

  • You have more time to request them. There won’t be any late fees.

Call 833-285-4030 if you need an extension.

Filing a claim

  • You and your doctors have more time to file claims. Call us at 833-285-4030 if you need an extension.

Health plan premiums

  • If you receive a bill directly from Anthem for your monthly insurance premium and are experiencing financial difficulties because of the emergency, you have more time to pay your bill. Please call us at 833-285-4030 to discuss options.

Mental health support 

  • Anthem’s Employee Assistance Program (EAP) offers mental health support and resources to help with legal and financial concerns, dependent-care needs, and other life challenges. Call the 24/7 EAP crisis line at 877-208-8240.
  • Our Anthem website also offers resources for mental health support.
  • Crisis support is available if you or someone you know is having suicidal thoughts or behavior, is experiencing emotional distress, or is behaving in a way that could harm others. Call 988 or go to 988lifeline.org to reach the confidential Suicide & Crisis Lifeline. Help is available 24/7.

In addition to the above, we are taking the following steps on behalf of our members:

  • Activating business continuity procedures to ensure continued access to care for impacted members.  Please refer to https://www.anthem.com/ca for more information on how we’re working to help our members.
  • Identifying members who may be medically impacted by smoke and fire.
  • Coordinating with providers (e.g., hospitals and nursing homes) to assist in the event of site closures.

Finally, Anthem is also offering free access to its online health option, LiveHealth Online to anyone living in the impacted area. LiveHealth Online offers video visits with U.S.-based board-certified doctors on a mobile device or computer from anywhere for non-emergency health conditions. The free visit offer will be available through the end of the state of emergency.

Important Notes:

  • The timing and locations for these relaxed guidelines may change based on conditions. Please check https://www.anthem.com/ca for updates.
  • These changes are for impacted members who reside in Los Angeles and Ventura counties in California and who have Anthem group health plans through their employers, or Anthem individual and family plans. They do not apply to Medicaid, Medicare, Medicare Part D, Medicare Advantage, Federal Employee Health Benefit Plans, or fully insured trust funds. These plans have their own guidelines.

The team at CorpStrat is available to help be your resource – reach out to us.

Out of Tragedy Comes Change: How Public Backlash May Be Reshaping the Health Insurance Industry

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Old general practitioner taking notes at consultation with patient

In the wake of the tragic death of UnitedHealthcare CEO Brian Thompson, a seismic shift is taking place in the healthcare and insurance industries. While the circumstances are deeply regrettable, the event has acted as a catalyst, sparking widespread public discourse and demand for change. This backlash, fueled by years of frustration over denied claims and rising costs, is now opening the door for positive reforms that could reshape the future of healthcare.

Transparency and Accountability: A New Era for Insurers

The intense criticism that followed this tragedy has forced health insurers to face a long-overdue reckoning. Public outcry has highlighted opaque practices around claim denials and coverage decisions, pushing insurers to be more transparent in their operations. In response, many companies are re-evaluating their policies, promising to prioritize patient needs and rebuild trust.

Competitors like Anthem Blue Cross / Blue Shield have already felt the heat, reversing controversial policies, such as limiting anesthesia coverage during surgeries. This swift response underscores the power of consumer advocacy and the importance of accountability in an industry that impacts millions. Plus, it underscores the real complexities involved in managing fraud and abuse, and the consumers expectations of near perfection in a “amazon instant response” expectant world..

Policy Reforms on the Horizon

This public backlash has caught the attention of lawmakers and regulators, many of whom are now prioritizing healthcare reforms aimed at protecting consumers. Proposed changes include tighter regulations on claim denials, improved transparency requirements, and initiatives to curb rising premiums. These reforms, if enacted, could mark a significant step toward creating a more equitable healthcare system.

Elevating Public Awareness

For years, healthcare inequities and challenges have persisted in the shadows, experienced by individuals but rarely discussed on a national scale. Now, personal stories of denied claims and financial struggles are coming to light, creating a collective call for action. This elevated public awareness has empowered consumers to advocate for their rights, putting unprecedented pressure on insurers to improve.

A Spark for Industry Innovation

The backlash is also fueling innovation in the healthcare space. Alternative models, such as Individual Coverage Health Reimbursement Arrangements (ICHRAs), are gaining traction in some states, while MEWA’s (Multiple Employer Welfare Trusts) are breaking the traditional fully insured model and creating non-ACA compliant alternatives for small and medium sized employer. Insurtech startups continue trying to be disruptive, creating consumer-friendly solutions designed to challenge traditional insurance practices.

These trends signal that the industry is ripe for transformation. By focusing on patient-centric care, ethical decision-making, and technological advancements, the healthcare landscape could emerge stronger and more efficient than ever.

Internally, insurance companies are being forced to rethink their culture and leadership priorities. As public trust erodes, the spotlight is on executives to lead with empathy and integrity. This moment could mark the beginning of a new chapter for corporate responsibility in healthcare and across all insurance plans and companies and products.

Conclusion: Turning Crisis into Opportunity

While the events surrounding this backlash are tragic, they have ignited a movement for possible change. By addressing long-standing issues and embracing innovation, the health insurance industry has an opportunity to rebuild trust and create a system that prioritizes fairness, transparency, and patient care. This is not just a moment of reckoning—it’s a chance for transformation. The team at CorpStrat stands ready to guide and lead your team.

What do you think? Could this be the tipping point for real change in the healthcare industry? Share your thoughts in the comments.