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Moving On Mama: Long-Term Care Planning
Moving On Mama: Long-Term Care Planning is about helping mature women, particularly those tail-end baby boomers aka Generation Jones women, plan for long-term care with a myriad of options that include self-funding, traditional long-term care insurance, hybrid life insurance with long-term care rider, hybrid long-term care annuities, health savings accounts (HSA's), trusts, and more. This show will encourage younger baby boomer women to overcome the fear and procrastination common with long-term care planning by learning from specialists that include Financial Advisors, Elder, and Medicaid Attorneys, Estate Attorneys, and Mental Health Professionals that can walk them through the process of planning for their golden years. Moving On Mama will also shine the spotlight on regular people that have struggled through or triumphed over a number of long-term care scenarios. The role of government in long-term care, the politics of long-term care, and the emerging crises and current policies surrounding long-term care will be discussed, encouraging the listener to then analyze and explore all components of long-term care planning, determining what plan of action is best for them.
Moving On Mama: Long-Term Care Planning
Options 5 & 6: HSAs and Trusts
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Emalyn Glenn
Health Savings Accounts and Trusts round out the informational series on funding options for long-term care planning. HSAs are predicated on employment; some 43% of companies offer them. The greatest benefit of HSAs, arguably, is their tax-advantaged status - which is great for those who self-fund long-term care expenses. The downside is out-of-pocket high deductibles in order to qualify for these plans. Charitable Remainder Trusts, where you can transfer your assets in exchange for income that you can draw from for a lifetime to pay for long-term care expenses, may be a good choice for those who don't have children or heirs.