Rekombinant

There is nothing we can do when unexpected illness hits, but we can take the steps today to make sure that our loved ones’“tomorrows” are financially protected. This is not a topic that anyone, including me, likes talking about, but as we get oldei and our parents or children get older, we’re going to have to deal with it whether we want to or not. In the baby boom generation most of us have more parents than we have children—and those parents are getting older. It is important to really think about what would happen if something did happen to you or someone you love. Do your parents or other family members assume without your talking about it that you would take care of them? If so, would you still be able to take care of yourself and your family? What are the Costs of a home in your area or in your parents’ area? If you’re single, married, living with someone, a parent: Who would take care of you? And would taking care of you make it hard for them to take care of themselves?
Long—term-care insurance is becoming a subject of much interest today, and you’ll be reading more about it as more and more people are beginning to see why it’s such an important quality-of-life issue—for the person who needs the care, but also for the loved ones left to try to pay for it. Beginning in 1997, corporations will be able to pay for LTC insurance coverage for their employees and take the cost of the premiums as a business expense for the company. This employer-paid LTC will not be taxable to the employee. Individuals can now consider it as a medical expense. For the self-employed, LTC insurance is now a business expense. There has also been talk lately that LTC premiums will one day become completely tax-deductible or that we’ll be able to buy it with the money already put away in our retirement accounts. Keep an eye out for more news about this topic—if this is the first time you’ve heard about it, it won’t be the last.