Pension Protection Act

The Pension Protection Act of 2006 allows for new opportunities to fund Long Term Care Insurance. The new legislation stipulates that the use of non-qualified annuity money to pay for Long Term Care insurance premiums can be tax-free. According to the U.S. Bureau of Health and Human Services, 70% of individuals over the age of 65 will need Long Term Care at some point in their life. The average cost of an semi-private residential care facility is $7000 per month, to pay someone to come into your home to care for you averages $29 per hour. Where is that money going to come from?

Posted in News on January 25, 2010 by admin