Risk Management: Long Term Care- Alternatives to Insurance Policies

Action item: There are other strategies to self-insure for Long Term Care including using home equity or selling or utilizing a reverse mortgage, using significant cash savings, and utilizing an HSA (Health Savings Account, individually held, not to be confused with an FSA or Health Reimbursement Account). HSAs are a feature of high deductible health insurance plans offered through an employer benefit program or through the healthcare exchanges. When you find yourselves eligible for an HSA, contact SAS Financial Advisors on how to manage this tax advantaged account to fund health expenses, tax-free, in retirement and act as one way to set aside funds for Long Term Care.