Dear Angel, I follow Mr. Farr’s newsletter and understand the need to plan in advance for long-term care, since it’s only getting more expensive. Others I know do not see this as a priority. Is the lack of preparation in advance for long-term care (something I hear that 70% of us will need one day) […]
Can I Use a Health Savings Account to Pay for Long-Term-Care Insurance or a Hybrid Life Insurance Policy?
Dear Angel, I have a Health Savings Account through my work. Can I withdraw money tax-free from my health savings account to pay my long-term-care insurance premiums? If I can, is there a limit to the amount I can use? Does it have to be for a stand-alone long-term-care policy, or can it be for […]
70% of Americans turning 65 will need Long-Term Care
Correction: The title of our newsletter is incorrect. It should be “One in seven adults will have a disability for more than five years.” We apologize for this error! Photo from homeaidescny.org A new federal issue brief, compiled by the Office of the Assistant Secretary for Planning and Evaluation (ASPE), was released following the White House Conference on Aging. The research shows that […]
Will the Government Pay for My Long Term Care?
“people who reach age 65 will likely have a 40 percent chance of entering a nursing home.