Long-Term Care Myth Debunk - This is not what you think (Updated 2023)
Photo by Robert Murray on Unsplash Author: Andrew Lee About 1 minute read. DISCLAIMER : This article is only for educational purposes and general information, and not for advertising nor soliciting Long-Term care products. Author also does not provide any tax nor legal advise. Always perform your own due-diligence and consult with a qualified insurance, tax and financial professionals, and evaluate for your own condition and situation for various financial products before taking any action or purchase. The Myths for Long Term Care (LTC) HSA cannot pay for LTC - It can . If you have a Health Savings Account (HSA), you could also consider using it to pay for your LTC policy premium for a LTC insurance. Business cannot deduct LTC premium - ask your CPA, yes, you can. I am too young or never need it - 70% over age 65 will need some form of LTC, and 37% of those receiving LTC are under the age of 65. Chronic illness, disability (e.g. car/work accidents, strokes), and cognitiv...