SECURELY Covering Long-Term Care Premiums And Costs

One of the challenges of retirement is, should I need it, how will I pay for Long-Term Care (LTC) premiums and costs? Many people mistakenly believe that Medicare will pay for the cost. While it will pay for rehabilitative care, it does not pay for the classically defined long-term care. That said, how might you start to pay or think about paying for LTC?

Many people might assume that they would simply take money out of their 401(k) or IRA account and pay that way. Well, of course, that will mean that you will have to pay additional taxes. Yet one of the big issues with any type of insurance is insurability. The older we get, the more often we have various illnesses that might make us uninsurable by insurance carriers for LTC.