SOURCE: Business Benefits Insurance

September 09, 2008 12:10 ET

Benefits Expert Jim Edholm Reveals in Employee Benefits News How to Get Cheaper Long-Term Disability Insurance Without Changing Carriers

ANDOVER, MA--(Marketwire - September 9, 2008) - In his article "Making the Most of your Long-term Disability Plan," recently published in Employee Benefits News, benefits consultant Jim Edholm encourages employers to use long-term disability benefits efficiently and shows how they can improve coverage for employees while lowering costs by taking advantage of tax laws.

"LTD is a very popular benefit, even when offered on a voluntary, employee-pay-all basis, outdrawing all other voluntary benefits," writes Edholm, president of Business Benefits Insurance in Andover, Massachusetts. "That combination of popularity and infrequency suggests that offering LTD might make you a more attractive employer, able to snag the most qualified employees, reduce turnover and improve efficiency, even if only slightly."

Edholm adds: "LTD enhances productivity by helping to get the disabled employee back to work sooner than otherwise. Today's LTD policies include workplace accommodation benefits, training, counseling and other assistance not covered elsewhere to help your employee return to work. He or she comes back sooner, so you're not stuck as long paying a less efficient worker while awaiting the disabled employee's return."

Edholm shows in his article how employers can reap positive results from LTD economically, without changing insurance carriers.

"Taxes are the key," he writes. "Tax law says if the employer pays the premium (which most do), the premiums are deductible to the employer, and benefits are non-taxable to the employee."

The article reveals secrets that employers can use to benefit employees as well as themselves by increasing insurance coverage without stretching their funds.

"You spend less; he gets more," writes Edholm. "A pretty good deal for everyone, all accomplished by understanding -- and using -- the tax code."

The full article can be read at

Edholm is president of Business Benefits Insurance (BBI), an employee benefits planning firm in Andover, Mass. He has worked with employers for more than 25 years and can be contacted at (978) 474-4730, via his website or via e-mail at

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