Maximize your HSA e-Newsletter
Vol. 14, Issue 9
Financial Protection Program 4: Planning for Long-term Care Needs
Life comes at you fast. One day you are taking the bus to school, and the next day you are setting up your 401k. It can get a little overwhelming. The number of things we juggle in our everyday lives – remembering to pay the bills, managing the house, various schedules – seems only to be the tip of the iceberg.
While we are managing our daily lives, we also have to think about the future. Plan for our retirement and our families security. It can just seem like too much. It doesn’t have to be though. There are things we can do now to help get rid of some of these lingering thoughts and fears.
How Long-Term Care Insurance Play A Role In The Financial Protection Program
Luckily, you’ve already taken the first step. Your health insurance/health share through HSA for America not only keeps accessible and affordable health care nearby but also helps protect your livelihood. After all, if you can’t work, you can’t earn. However, the stress of having to both support yourself now and to save for the future can seem daunting.
How are you even supposed to know how much you need? What happens if you get sick? What options are out there for you?
There is something else you can do though. While it may seem crazy to think about your long-term care needs now, planning can save you a lot of money in the long-run.
When a lot of us think about long-term care images of nursing homes or hospitals come to mind. But, nursing homes are only one part of it. Long-term care includes a host of services ranging from in-home care to assisted living to more directed care.
We know that 70% of people over age 65 will need some form of long-term care in their lifetime. Yet, Medicare and health insurance don’t cover the majority of these costs. You are stuck paying for them out of pocket. Talk about something that can drain your savings.
There is hope though. Something that can give you peace of mind now and into the future.: Long-term care insurance.
Long-term care insurance will pay for care provided at your home, a nursing home, or an assisted living facility. Long-term care insurance can save you thousands of dollars. It can help prevent unexpected expenses as you age and enter retirement and can give you the knowledge that you can afford the care when you need it.
Things to Know
There are a lot of different options out there for long-term care insurance, and so it can get confusing. The major thing you need to know is that you should buy early.
The younger you are when you buy your policy, the cheaper your premiums will be over the life of the policy. So be sure to shop around and shop around soon! It’ll help remove some of life’s stress.
I have created a FREE special report explaining long-term care insurance in detail. Simply click the download button below to access and read the report.
Wiley P. Long, III
President – HSA for America
The HSA for America Maximize Your HSA Newsletter is published monthly and emailed to subscribers at no charge. Subscribe now to stay on top of the critical information you need to know about health insurance, healthshare plans and managing your finances to achieve financial security.
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