Navigating the Costs and Coverage of Long-Term Care Insurance
Long-term care insurance can help cover the expensive costs of long-term care, but it also comes with its own price tag. To make paying for coverage easier, options include utilizing single-premium long-term care insurance by repurposing retirement funds, adding a long-term care rider to a life insurance policy, using healthcare savings accounts (HSAs) to pay premiums, and purchasing a policy early to lock in a more affordable rate. These alternatives can help individuals plan for and manage the financial burden of long-term care.