Understanding the Importance of Long-term Care Insurance
January 2, 2024
Understanding the Importance of Long-term Care Insurance

The American workforce has gotten older, with people staying in school longer and others delaying retirement. According to the U.S. Department of Health and Human Services, nearly 70% of 65-year-olds will need long-term care (LTC) in their lifetimes. As such, LTC insurance has become a crucial component of financial planning, offering a safety net for individuals facing extended periods of health care and assistance needs. As the workforce ages, employers should recognize the importance of offering comprehensive benefits.


This article explores the significance of LTC insurance, outlines the potential benefits and drawbacks of offering such coverage as a sponsored benefit, and offers best practices for employers to consider when incorporating these policies within their voluntary benefits offerings.


Overview of LTC Insurance

LTC refers to a wide array of medical care, personal assistance and social support services for people who are physically or mentally unable to independently care for themselves for an extended period. This care can be provided in a nursing home, an assisted living facility or one’s home. Individuals needing LTC usually require assistance performing basic activities for daily living or have severe cognitive impairment. Generally, the conditions that necessitate LTC are caused by accidents, illnesses or advanced age.


Unfortunately, LTC often carries substantial costs. That’s where LTC insurance can help. Such coverage can protect individuals against incurring large out-of-pocket expenses for LTC in the future through affordable monthly premiums now. There are two different types of LTC insurance policies available, including the following:


  • Individual LTC insurance


  • Group LTC insurance


Individual policies are generally purchased by people whose employers do not offer group policies, or by those who feel they need to supplement their employer-provided policies to obtain the most coverage possible. On the other hand, some employers and associations offer LTC insurance to employees in the form of group policies. In these cases, such coverage may not offer the same level of protection afforded by individual policies. Before purchasing group policies, comparing the level of protection offered and the level of protection guaranteed in comparable individual policies is wise. LTC insurance policies should also clearly state whether they are individual or group policies.


Pros and Cons of LTC Insurance

More employers are expanding their voluntary benefits offerings, including LTC insurance. This coverage augments a medical plan and helps protect employees’ retirement savings. Employers can offer LTC insurance to their employees as a voluntary benefit, allowing them to choose to enroll in the plan and pay the premiums themselves. Alternatively, some employers may contribute to the cost of LTC insurance premiums as part of their benefits packages.


If employers are considering offering LTC insurance as a sponsored benefit, they may start by weighing the pros and cons of doing so. Employee benefits have the potential to impact staff attraction, retention and well-being. As the workforce ages, employees are placing greater importance on benefits that address long-term health and financial security.


Specific advantages of providing LTC insurance as a sponsored benefit include the following:


  • Financial security—LTC insurance can help protect employees’ assets and savings from being depleted by the high cost of extended health care services. This financial security can contribute to a more stable and engaged workforce.


  • Tax advantages—In some cases, both employers and employees may benefit from tax advantages associated with LTC insurance premiums. Employers should explore these potential tax incentives to make the benefit even more attractive.


  • Workforce support—With many employees delaying retirement, employers are faced with an aging workforce. LTC insurance can be a proactive solution for companies looking to support the changing needs of their employees and foster a culture of care and concern.


There are also potential drawbacks of offering LTC insurance as a sponsored benefit, such as the following:


  • Cost concerns—One of the primary drawbacks for employers may be the cost associated with offering LTC insurance. Striking a balance between providing valuable benefits and managing expenses is crucial. Employers should assess their budgetary constraints and explore different insurance options for the most cost-effective solution.


  • Employee misunderstanding—LTC insurance can be complex, and employees may not fully understand its importance. Employers should invest in educational resources and communication strategies to ensure employees grasp the value of this benefit.


Employer Best Practices

When providing LTC insurance as a sponsored benefit, employers should note that employee education is critical. Simply offering LTC insurance as a voluntary benefit isn’t enough to encourage employee enrollment. Benefits, and insurance policies especially, are complex and require some education so employees can better understand these offerings and determine which ones are a good fit for their lives and budgets.


Here are some additional strategies for employers to consider when adding LTC insurance to their benefits offerings:


  • Switch to off-cycle enrollment. LTC insurance is complex, so off-cycle enrollment (outside the annual open enrollment period) can give employees more time to review this benefit and understand how it could meet their health care and financial needs.


  • Offer educational opportunities. When employees understand the risks associated with LTC, they may be more willing to start planning for this care and purchase coverage at a younger age. Educational workshops, seminars, team lunches and emails can help educate employees about the significance of LTC insurance. Bringing in insurance experts to explain the intricacies of this coverage and answer employees’ questions can demystify the process.


  • Personalize the experience. Personalized consultations with insurance representatives can help employees make informed benefits decisions based on their unique needs. A one-on-one approach can address specific concerns and boost employee confidence in chosen coverage offerings.


  • Communicate clearly. Employers should provide clear and concise communication materials, including brochures, FAQs and online resources, to help employees understand the key features and benefits of LTC insurance.


Employers should keep in mind that some states have begun mandating LTC insurance, so it’s best to consult with legal counsel before making any benefits changes.


Summary

Employers have an opportunity to make benefits offerings convenient and economical for their employees, and that includes offering LTC insurance as a voluntary benefit. LTC insurance can provide employees with a sense of security, knowing that they have a financial cushion in place should they require extended medical care. This can contribute to reduced stress levels and improved overall well-being, positively impacting productivity and job satisfaction. However, group LTC insurance, like any type of offered benefit, may not be the right choice for all employers.


Contact Simco for more information about LTC insurance.

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March 3, 2025
Cybercriminals continue to evolve their tactics, making phishing attacks more sophisticated and harder to detect. Every day, countless phishing emails reach inboxes, often with the intent to steal sensitive information or spread malware. Unfortunately, many of these attacks succeed in just a matter of seconds— the median time for users to fall for phishing emails is less than 60 seconds according to the 2024 Verizon Data Breach Investigations Report . With stolen credentials being one of the most popular methods of attack, businesses face increasing risks as these types of cyber threats become more complex and dangerous. How Phishing and Spoofed Domains Work Phishing attacks aim to trick employees into revealing sensitive information, often through: Fraudulent Email Links – These emails appear to be from trusted sources but contain malicious links that install malware or steal login credentials. Look-Alike Domains – Hackers create fake websites that resemble real business portals, altering a single character in the domain (e.g., “micr0soft.com” instead of “microsoft.com”). Credential Theft – Once hackers obtain login credentials, they sell them on the dark web, leading to widespread data breaches. Red Flags: How to Identify a Phishing Email Unusual Sender Addresses – Cybercriminals often spoof email addresses to look like trusted sources. Carefully inspect the sender's domain name for typos, extra characters, or strange formatting. A genuine email from "paypal.com" could be faked as "paypall.com" or "paypal-support.com." Urgent or Threatening Language – Many phishing emails attempt to create a sense of urgency, claiming that an account will be suspended, a payment has failed, or legal action is imminent. If an email pressures you into immediate action, be suspicious. Unexpected Attachments or Links – Hover over hyperlinks before clicking to see the actual URL destination. If the web address looks unfamiliar or mismatched with the sender's identity, do not click. Similarly, attachments that appear out of context—especially ZIP files, PDFs, or Word documents—could contain malware. Requests for Sensitive Information – Legitimate organizations will never ask for passwords, Social Security numbers, or banking details via email. If an email requests confidential information, verify with the company directly using a trusted phone number. Generic Greetings or Poor Grammar – Emails that start with “Dear Customer” instead of your name, or those containing awkward phrasing and misspellings, often indicate phishing attempts. Many cybercriminals operate internationally and use machine translations, leading to unnatural wording. Best Practices to Protect Your Business Train Employees Regularly – Frequent security awareness training helps employees recognize phishing attempts. Past studies by Proofpoint show that companies with ongoing cybersecurity training reduce phishing-related breaches by up to 60%. Implement simulated phishing tests to reinforce learning. Enable Multi-Factor Authentication (MFA) – MFA significantly decreases the chances of an account being compromised, even if login credentials are stolen. Microsoft reports that MFA can block over 99% of automated cyberattacks . Ensure all employees activate MFA for business accounts. Verify Requests Independently – If an email asks for sensitive actions (e.g., wire transfers, login changes, or software downloads), confirm the request through a known and trusted contact method. Never use the phone number or link provided in the email —instead, visit the company's official website or call using a verified number. Monitor and Filter Emails – Implement robust email security tools that automatically flag suspicious messages. Advanced filtering systems, like those offered by Barracuda Networks, can block over 90% of phishing emails before they reach inboxes. Encourage a Report-First Culture – Employees should feel empowered to report suspicious emails even if they are unsure. IT teams can analyze these reports to strengthen cybersecurity measures. Early detection prevents widespread damage. Use a Password Manager – Employees often reuse passwords across multiple accounts, increasing security risks. Encourage the use of password managers like 1Password or LastPass to generate and store complex passwords securely. New Tactic: The Rise of QR Code Phishing ("Quishing") QR code phishing, or "quishing," is a new phishing tactic gaining momentum as attackers exploit the widespread use of QR codes. Unlike traditional phishing, which relies on malicious email links, quishing uses QR codes to redirect users to fake websites designed to steal login credentials. Several factors contribute to quishing's success: Ubiquity : QR codes are now commonly used for payments, tickets, and documents, reducing suspicion when they appear in emails. Minimal Text : Unlike traditional phishing emails, quishing messages often contain little text, making them harder for security systems to flag. Mobile Vulnerability : QR codes are scanned on personal devices, which typically lack the protection of corporate systems. According to Abnormal Security , 90% of quishing attacks involve credential phishing , where users are tricked into entering sensitive data. Another common tactic is using fraudulent MFA alerts, which account for 27% of attacks , while 21% involve fake document-signing requests . Final Thoughts At the end of the day, protecting your company from phishing and cyber threats requires more than just technology—it’s about the people behind it. By fostering a culture of awareness and encouraging open communication, you empower your employees to be the first line of defense. Together, with vigilance and the right tools in place, you can ensure the safety of your sensitive data and build a more secure future for your business.
February 28, 2025
Employee Appreciation Day, which falls on March 7th this year, is an ideal occasion to express gratitude for the hard work and dedication of your employees. At Simco, we recognize that employee appreciation shouldn’t be limited to just one day, but this day presents a special opportunity to go above and beyond in showing your team how much they mean to the success of your organization. When employees feel recognized and valued, it enhances morale, engagement, and ultimately, productivity. Here are several thoughtful and impactful ways to celebrate Employee Appreciation Day, creating lasting positive effects for both your employees and your company. 1. Personalized Appreciation Nothing shows employees you truly value them more than personalized recognition. Tailor your appreciation efforts to each individual, acknowledging their unique contributions and the impact they’ve made. Personalized gestures help employees feel recognized for the specific work they’ve done, making the appreciation feel authentic and meaningful. You can: Write Personalized Thank-You Notes : Take the time to write handwritten notes to your employees, thanking them for their specific achievements and how they contribute to the company’s overall success. Publicly Acknowledge Contributions : During a company meeting or via a group email, recognize each team member's individual contributions, celebrating their efforts with concrete examples. Employee Spotlights : Feature standout employees in your internal newsletter or on social media to highlight their unique strengths and hard work. 2. Host an Engaging Celebration Employee Appreciation Day is an excellent time to host a celebration that brings everyone together, whether virtually or in person. A well-planned event can boost morale and provide a chance for employees to connect with one another outside of their usual work routines. Ideas for celebration include: Catered Meals or Special Treats : Provide lunch, snacks, or a special treat to make the day feel celebratory. A fun lunch or dessert bar can offer an opportunity for employees to mingle and bond. Themed Events : Host a fun, themed event such as a retro office party or a “thank you” happy hour where employees can unwind and enjoy themselves. Virtual Celebration : For remote or hybrid teams, set up a virtual event like a game or trivia session where employees can engage and laugh together. 3. Offer Tangible Tokens of Appreciation While a simple thank-you is powerful, offering a meaningful gift can take employee appreciation to the next level. Thoughtful rewards can show your team that you not only recognize their hard work but are also willing to invest in their well-being. Consider: Gift Cards : Offer gift cards to popular retailers, restaurants, or online stores, allowing employees to pick out something they personally enjoy. Wellness Incentives : Gifts that promote health and wellness—such as fitness trackers, yoga classes, or access to mental health resources—show employees you care about their overall well-being. Company Merchandise : High-quality, branded merchandise like apparel, accessories, or tech gadgets can serve as a lasting reminder of your appreciation. 4. Invest in Professional Development One of the most meaningful ways to honor your employees is by helping them grow professionally. Employee Appreciation Day is a great time to invest in their future, whether through formal training, new opportunities, or fostering leadership skills. Ways to offer growth opportunities include: Learning Stipends : Offer financial support for employees to pursue further education, certifications, or online courses that align with their career goals. Internal Development Programs : Launch mentorship initiatives or leadership programs that enable employees to expand their skill sets within the organization. Growth Opportunities : Encourage employees to explore new roles or responsibilities that align with their career aspirations, reinforcing your commitment to their long-term success. 5. Encourage Peer Recognition Employee appreciation doesn’t have to be a one-way street from management to employees. Encouraging peer-to-peer recognition helps build a strong team culture, where employees feel supported and valued by their colleagues as well. This helps foster camaraderie and teamwork, which benefits the entire organization. Ideas for peer recognition: Peer-to-Peer Appreciation Platforms : Create an internal platform where employees can nominate or thank their colleagues for their contributions, highlighting specific ways they've gone above and beyond. Recognition Wall : Set up a virtual or physical wall where employees can post messages of appreciation for their peers, encouraging a culture of gratitude. Monthly Recognition : Implement a peer-nominated “Employee of the Month” program to recognize and reward employees for their ongoing contributions. 6. Give Back Employee Appreciation Day also provides an opportunity to show gratitude by giving back to the community. Many employees value working for companies that have a strong sense of corporate social responsibility. By organizing a charitable event or initiative, you demonstrate that your organization cares about making a positive difference beyond the workplace. Ideas for giving back include: Company Volunteer Days : Organize a day of service where employees can volunteer at a local charity or nonprofit, allowing them to contribute to causes they care about while bonding with their colleagues. Matching Donations : Offer to match employee donations to their favorite charities, demonstrating that you support their personal values and causes. Charitable Fundraising Events : Host fundraising activities or auctions with proceeds going to a charitable organization chosen by the team. 7. Seek Feedback Finally, a key part of showing appreciation is listening to your employees and gathering feedback on how they feel valued. Employee Appreciation Day offers the perfect occasion to ask for input on what makes them feel appreciated and what could be improved. This helps ensure that future efforts are even more meaningful. Ways to gather feedback: Anonymous Surveys : Send out a survey asking employees what makes them feel most appreciated and if they have any suggestions for improving recognition practices. One-on-One Check-ins : Arrange individual meetings with employees to hear their thoughts on workplace culture and recognition, providing an opportunity for honest feedback. Cultivating a Culture of Appreciation Year-Round Employee Appreciation Day is a special occasion, but the benefits of recognizing your team should last well beyond this single day. When employees feel consistently valued and appreciated, it leads to higher morale, greater job satisfaction, and increased engagement. By investing in recognition efforts, offering meaningful rewards, and fostering a culture of appreciation, you ensure that your team remains motivated, happy, and productive all year long. At Simco, we believe that lifting and supporting employees is integral to creating a thriving workplace. Whether you celebrate Employee Appreciation Day with gifts, events, or personalized recognition, taking the time to show gratitude is a small gesture that can have a lasting impact on both your employees and your business.
February 24, 2025
As medical and recreational cannabis laws continue to evolve, employers in the Northeast face unique challenges when developing workplace policies. Understanding state-specific regulations is crucial to ensuring compliance while maintaining a safe and productive work environment. This guide provides an overview of cannabis-related employment laws in key Northeastern states, offering clarity on what employers can and cannot do regarding hiring, discipline, and drug testing. Since state laws change frequently, employers should consult legal professionals and insurance carriers for the most up-to-date guidance. Key Considerations for Employers Employers must balance workplace safety with employees’ rights, particularly as state laws differ significantly. While federal regulations such as the Drug-Free Workplace Act and Department of Transportation (DOT) rules still apply, employers should also consider: State disability discrimination laws – Some states require reasonable accommodations for medical cannabis use. Lawful off-duty conduct laws – In certain states, employees cannot be disciplined for legally using cannabis outside of work. Religious accommodations – Employers may need to accommodate cannabis use for religious purposes. Wrongful termination claims – Firing an employee solely for cannabis use may violate public policy in some jurisdictions. State drug testing laws – Some states impose restrictions on when and how employers can test for cannabis. Employers may maintain drug-free workplace policies but should ensure they comply with state-specific requirements, particularly when disciplining employees or making hiring decisions. State-Specific Employer Guidance Below is a breakdown of cannabis-related employment laws in key Northeastern states. Connecticut With some exceptions, employers: Cannot refuse to hire an applicant for using cannabis outside of work unless they would violate a federal contract or lose federal funding by hiring them. Cannot discipline or discharge employees for using cannabis outside of work unless they have a written policy that is provided to employees prior to its effective date, and to applicants when they are offered a job. Cannot discipline or discharge employees or applicants for testing positive for the main inactive metabolite of cannabis. Can prohibit employees from working under the influence of cannabis. Can discipline and discharge employees if they have a reasonable suspicion that they used cannabis at or during work or on call. Can discipline and discharge employees who show specific, articulable symptoms of impairment while working or on call that negatively affect their job performance. Employers may not discriminate against or discipline an applicant or employee based solely on their status as a medical cannabis patient, except when: It would violate a federal law; or The employer would lose federal funding. Note: A court has held that a federal contractor’s required compliance with the Drug-Free Workplace Act did not qualify for either exception. A court has held that a registered patient’s protected status includes using medical cannabis off duty. Employers cannot prohibit employees who are qualifying palliative medical cannabis patients from possessing cannabis at work. The medical cannabis law states that employers may prohibit employees from using cannabis during work and from working under the influence of cannabis. Delaware Employers may not discriminate against or discipline an applicant or employee based solely on their status as a medical cannabis patient. Employers may not discipline or discharge applicants or employees based on a positive drug test unless they use, have, or are impaired by cannabis at work or during work. The recreational cannabis law states that it doesn’t restrict employer rights with respect to setting and enforcing terms and conditions of employment (for example, accommodations, policies, or discipline) and that employers can prohibit the possession, use, and distribution of cannabis on their property. Exceptions to employment protections under the medical cannabis law exist when the employer would: Lose federal money; or Lose a federal license. District of Columbia Employers may have drug policies prohibiting cannabis. The recreational cannabis law states that employers are not required to accommodate cannabis use at work. Protections have passed for medical cannabis use, but the effective date is still pending. Employers may not test applicants for cannabis until after extending a conditional offer of employment, unless otherwise required by law. Maine Employers may prohibit employees from using recreational marijuana at or during work. Employers may discipline employees for working under the influence of recreational marijuana. The law previously specifically prohibited employers from disciplining employees for off-duty use, which the Maine Department of Labor interpreted to mean that employers cannot discipline an employee or disqualify an applicant based solely on a positive marijuana test. Employers may not discriminate against or discipline an applicant or employee based solely on their status as a medical cannabis patient, except when the employer: Would lose federal money; or Would lose a federal license. The medical cannabis law states that it does not require employers to allow employees to use cannabis at work or to work while under the influence of cannabis. Maryland The medical cannabis law does not address employers’ or employees’ rights or obligations specifically. However, the law states that medical cannabis patients cannot be penalized, disciplined, or denied any right or privilege for using or possessing medical cannabis in compliance with the law. The recreational cannabis law does not address employers’ or employees’ rights or obligations. Massachusetts The recreational cannabis law states that it does not prevent employers from enforcing their drug policies restricting employees’ consumption of cannabis. The cannabis laws state that employers are not required to accommodate medical or recreational use at work. Employers are required to engage in the interactive process under state disability discrimination law regarding potential accommodations for off-duty medical use. New Hampshire The medical cannabis law states that it allows employers to prohibit employees from using cannabis at work or during work, and from working under the influence of cannabis. Using medical cannabis off duty can be a reasonable accommodation under the state’s disability discrimination law. New Jersey Employers are prohibited from: Requesting criminal cannabis history; Making employment decisions based solely on an applicant’s or employee’s criminal cannabis history; Discriminating against an employee or applicant because they use cannabis outside of work; or Disciplining an employee solely for testing positive for THC. Drug testing for cannabis/THC must include a physical evaluation to determine if the employee is currently impaired. The physical evaluation must be done by someone with a Workplace Requirement Recognition Expert (WIRE) certification. Employers may not discriminate against an applicant or employee based solely on their status as a medical cannabis cardholder. If an applicant or employee tests positive for THC, the employer must provide them with written notice of their right to present a legitimate medical explanation for the positive test result or request a retest of the original sample at the applicant’s or employee’s own expense. The applicant or employee then has three working days to provide their healthcare practitioner’s authorization for medical cannabis or a registry identification card. Exceptions to these employment protections for medical cannabis are: If the employee uses or has cannabis during work; If the employer would violate federal law; or If the employer would lose a federal license, a federal contract, or federal funding. The medical cannabis law states that it allows employers to prohibit employees from using cannabis at or during work. Employees can sue employers under the state disability discrimination law for failing to accommodate off-duty medical cannabis use. New York Employers may not discriminate against or discipline an applicant or employee based on their lawful off-duty consumption or use of cannabis off the employer’s premises. Exceptions to these employment protections exist where: The employer’s action is required by federal or state law or federal or state governmental mandate; The employee is impaired by cannabis during work (see below); or The employer would violate a federal law or lose federal funding or a federal contract. An employee is impaired by cannabis at work if they have “specific articulable symptoms” that either negatively affect their job performance or interfere with the employer’s ability to provide a safe workplace. The medical cannabis law states that it allows employers to prohibit on-duty impairment. State disability discrimination protections apply to certified medical cannabis patients. Exceptions to the medical cannabis employment protections exist when the employer would: Violate federal law; Lose a federal contract; or Lose federal funding. Pennsylvania The medical cannabis law prohibits employers from discharging, threatening, refusing to hire, or otherwise discriminating or retaliating against an employee solely based on their status as a medical cannabis patient. The medical cannabis law states that it does not: Require employers to allow employees to use medical cannabis at work. Prohibit employers from disciplining an employee for being under the influence of medical cannabis at or during work when the employee’s conduct falls below the standard of care normally accepted for that position. Require employers to violate federal law. The medical cannabis law states that it allows employers to prohibit employees from performing any duty that could result in a public health or safety risk while under the influence of cannabis. Rhode Island Employers may not discriminate against or discipline an applicant or employee based solely on their status as a medical cannabis cardholder, with the following exceptions: The employee uses or has cannabis at work; The employee is under the influence of cannabis at work; The employee works under the influence of cannabis when doing so would be considered negligence or professional malpractice, or would jeopardize workplace safety; The employee operates or physically controls a motor vehicle, equipment, or firearms while under the influence of cannabis; The employee violates terms of a collective bargaining agreement; The employer would lose federal funding; or The employer would lose a federal licensing-related benefit. The medical cannabis law states that it does not require employers to accommodate employees using medical cannabis at work. Employers are prohibited from disciplining or discharging an employee for lawfully using cannabis off duty unless one of the following exceptions applies: The employee works while under the influence of cannabis; The employee is subject to a collective bargaining agreement that prohibits lawful, off-duty cannabis use; The employer is a federal contractor and failing to discipline or fire the employee would cause the employer to lose a monetary or licensing-related benefit; The employer is subject to a federal law or regulation, and failing to discipline or fire the employee would cause the employer to lose a monetary or licensing-related benefit; or The employee’s job is hazardous, dangerous, or essential to public welfare or safety and the employer’s policy prohibits them from using cannabis for 24 hours before their scheduled shift (e.g., first responders, jobs that involve operating heavy equipment or machinery or commercial vehicles). Vermont The recreational cannabis law states that it does not: Require an employer to allow employees to use or have cannabis at work; Prevent an employer from having a policy that prohibits the use of cannabis at work; Create a reason an employee can sue an employer; or Prevent an employer from prohibiting or regulating cannabis at work. The medical cannabis law does not address employers’ rights or obligations. Navigating cannabis laws can be complex, but staying informed about your state's regulations is crucial. Employers in the should continually review their policies and seek legal counsel to ensure compliance, reduce liability, and maintain a safe work environment for all employees. If you have any questions, contact us ! Simco is here to support your business.

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