Long Term Care
It is estimated that 60% of people, 65 or older will need long term care during their lives - either at home or in a facility, costing as much as $8,000 per month. Your Health or Medicare Supplement plan won't cover it, and you must be impoverished to qualify for Medicaid coverage. Long term care insurance helps you protect your retirement savings and your family assets. It provides peace of mind.
Premiums are based on your age and health. Locking in now means lower fixed premiums. The policy, which typically costs $25 to $100 per month, is discounted if your spouse also enrolls or you purchase through a group, and can be paid tax-free from your Health Savings Account (HSA).