Roy Snarr
, CFF, LACP, NSSA
Snarr Financial & Insurance Services, Inc.
Planning for the Possibility of Long-Term Care
Long-term care insurance helps cover the cost of long-term care, including in-home care, assisted living, and nursing home care. According to the National Association of Insurance Commissioners (NAIC), about 7.5 million Americans had long-term care insurance policies in 2019.There are several reasons to purchase long-term care insurance. For one thing, it can help to offset the high cost of long-term care, which can easily exceed $100,000 per year. Additionally, long-term care insurance may help protect assets if someone needs to receive long-term care.Many people are surprised to learn that Medicare does not cover the cost of long-term care. As a result, individuals without private long-term care insurance or another form of coverage may need to pay for long-term care out of their pockets. Given the high cost of long-term care, this can be a daunting prospect for many people.The Benefits of Long-Term Care Insurance.
- It can help you maintain your independence.
- If you need assistance with daily activities, long-term care insurance may pay for in-home care or assisted living.
- This means you could stay in your own home rather than move into a nursing home.
- Long-term care insurance may also help reduce the financial burden on your family if they would otherwise have to pay for your care.
- Be sure the policy covers in-home care and nursing home care.
- Pay attention to the policy's benefits to ensure it meets your needs.
- Don't wait until care is needed to buy a policy; it will be more expensive if you do so when you're older. It's best to purchase long-term care insurance when you're younger and in good health.
- With your own money
- Pre-tax money from a flexible spending account (FSA) or health savings account (HSA)
- Fund a long-term care rider with life insurance

Roy Snarr
Snarr Financial & Insurance Services, Inc.
1640 Highland Falls Dr.
Suite 101
Leander, Texas 78641
roy@snarrinsurance.com
(512) 591-8814


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