CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Noel Santos
Emmanuel A. Santos JD CPA, Incorporated
447 Sutter Street, Suite 714, San Francisco, CA 94108
Phone: 415-362-8921
Fax: 415-362-8924
Cell: 415-412-5839
Email: noel@eas-cpa.com
Website: www.eas-cpa.com
Your Business...Your Family...Our Concern
April 2023
April 2023 Client Profile
Elizabeth is considering whether she should buy long-term care insurance. She’s 35 years old and healthy, so she’s not sure it’s the best use of money now. What should she consider when making a final decision?
Long-term care insurance generally covers a portion of the expenses incurred due to a chronic medical condition. Most policies will pay a percentage of the cost of care in your home, an assisted living facility, or a nursing home.
Most people think of it as coverage for old age needs. But, long-term care insurance provides aid should you develop an illness or incur an accident at any age.
Elizabeth’s annual premiums will likely be lower since she is currently healthy. However, actuaries look at your family history, including DNA ancestry sites to see if you are likely to develop a long-term disease like Alzheimer’s and Parkinson’s.
Qualified long-term care insurance premiums can be deducted if you itemize on Schedule A. However, there are deductible limits based on age.
On average, 70% of Americans
over 65 will need some form of
long-term care service in their lifeime.
over 65 will need some form of
long-term care service in their lifeime.
Client Profile is based on a hypothetical situation. The solutions discussed may or may not be appropriate for you.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.