Don’t Have Long-Term Care Insurance? The Government May Tax You! [Video]

You’ve heard it before: the best time to buy Long Term Care Insurance is before you need it. Now, you may not have an option. Thirteen states are considering taxing you, if you don’t have a long-term care insurance policy. And as Chris Lester with Professional Planning Services explains to Erin Kennedy, he believes we will see more and more states adopt the tax.

Proactive planning is key, and our team at Professional Planning Services can help you find LTC insurance that fits your budget and your goals. That way, you’ll be prepared no matter what the government mandates.

Having a plan for long-term care is vitally important; seven out of ten people will need long-term care at some point in their life. If you’d like to talk through your options for healthcare or long-term care insurance, please call Chris at 732-302-1810 or make an appointment by visiting www.ProfessionalPlanningServices.com

Sources: ThinkAdvisor (the Law slide) – https://www.thinkadvisor.com/2023/01/13/secure-2-0-may-stabilize-the-long-term-care-toolbox-howard-sharfman/; Map Slide: https://www.ltcipartners.com/blog/a-surprising-reason-why-clients-may-want-to-buy-ltc-insurance-now