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Long Term Care Tax Coming to Your State

Several States Consider Long Term Care Tax For Those Who Do Not Own LTC Insurance

A number of states and the federal government have offered tax incentives for many years encouraging people to buy Long-Term Care Insurance. Washington State recently implemented a Long Term Care Tax for those who don’t own a qualified Long-Term Care Insurance policy. Following Washington’s example, many states are now looking at taxing your wages unless you have a qualified Long-Term Care Insurance policy. [Read more…]

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Life Insurance Exchange for Long Term Care Insurance

Perhaps your current situation indicates your life insurance policy might be more beneficial to you if it was a long term care insurance policy. If so, you could have some options to consider as you may be able to perform a tax-free 1035 exchange of your life insurance policy for a long term care insurance policy. And, you’ll never have to pay taxes on the gains because long term care benefits are not taxable. [Read more…]

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Texas Long Term Care Costs 2022

Texas Long Term Care Insurance has essentially become a necessity, much like health insurance, for all but the very wealthy. The necessity becomes clear when you consider Texas long term care costs. The 2022 median cost of a Texas long term care facility is now $85,107 ($233/Day). [Read more…]

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Affordable Long-Term Care Insurance Options

ONE OPTION: Figure Out How Much You Can Afford To Pay On Your Own And Then Buy Long-Term Care Insurance To Fill The Gaps

Financial advisers know that long-term care costs can be one of the biggest threats to a retirement plan. If you don’t deal with the long-term care risk, it can decimate your retirement plan. So when an investment adviser draws up an investment plan, they typically ask their clients what they plan to do if they need long-term care. [Read more…]

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California Long Term Care Costs 2022

Long Term Care Costs In California

California Long Term Care Insurance has essentially become a necessity, much like health insurance, for all but the very wealthy. The necessity becomes clear when you consider California long term care costs. The 2022 median cost of a California long term care facility is now $146,000 ($400/Day). [Read more…]

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Indemnity vs Reimbursement LTCi

Indemnity vs Reimbursement Long Term Care Insurance Policies

This article explains the difference in Indemnity Vs Reimbursement long term care insurance policies, including:

  1. How traditional “reimbursement” long term care insurance policies pay benefits based upon the actual expenses you incur.
  2. How an “indemnity” long term care insurance policy pays a monthly cash benefit, regardless of the expense incurred.
  3. Why you should understand the differences of Indemnity Vs Reimbursement long term care insurance plans before you purchase a policy.
  4. How to get quotes that compare Indemnity & Reimbursement long term care insurance policies.

[Read more…]