2017 Long Term Care Insurance Federal Tax Deductible Limits
The elderly have always needed help in their later years. It has come mainly from family members, and this continues to be the case. But today’s family is far smaller and more likely to be geographically scattered than in the past. These trends are expected to become more pronounced. Add in rising numbers of older […]
When purchasing long-term care insurance protection, it is important to make certain that the insurance company you select is both committed to the marketplace as well as being financially sound. The insurance companies identified below have been deemed by the Association as leading long-term care insurance companies committed to the marketplace. Ratings updated December 31, […]
According to Baby Boomer Headquarters (BBHQ.com) over 10,000 people in this country turn 65 every day. This figure will continue to grow over the next 10 years. Many Americans in their 40’s-50’s have either cared for their parents personally, or funded some type of long term care for them. Almost all know of someone that […]
The consideration given to protecting your assets as you transition into retirement is crucial to ensure peace of mind-not just for you but for the loved ones that may be responsible for your care. According to the 2006 MetLife Mature Market Report, the national average for a semi-private room in a nursing home is $186/day […]
Protects your assets -prevents spend down and avoidance of Medicaid (medical welfare) Preserves your Independence – dependency on family that may be responsible for your care is no longer a concern. Tax Deductible – your premiums may be tax deductible, benefits are tax free Access to Care – provides a coherent strategy for your caregivers […]
The IRS has released the 2014 limits (IRS Revenue Procedure 2012-41 (2013 limits) and 2013-35 (2014 limits)): In addition, the per-diem limitation under Section 7702B(d)(4) for periodic payments received under a qualified Long Term Care insurance contract have been increased for 2014 to $330 (the 2013 limit is $320).
The consultation appointment is most important to ascertain whether Long Term Care insurance is right for you, and if so to select a carrier and plan that will best suit both your benefit and budget requirements. Shopping Guide to Long Term Care
Long Term Care Insurance gives you the security that your family will not have to take care of you down the road, and you will have choices for the best care available.
Long Term Care Financial Solutions, LLC5471 W. Waters Ave. Suite 300 Tampa, FL 33634 Phone: 1-877-380-8800 Fax: 1-813-901-8975
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