The purpose of an HSA account is to have access to pre-tax dollars to pay for medical expenses or policy premiums for long-term care. Your clients can fund a health savings account (HSA) if they have a high deductible insurance plan ($1,250 to $6,350 if the plan covers one person, $2,500 to $12,700 if 2+ family members are covered).
Several sources now provide sophisticated online services to help decide when and how to claim Social Security benefits; some of the services are free, such as AARP and T. Rowe Price. Other services charge a fee:
§ MaximizeMySocialSecurity.com (very flexible)
§ SocialSecuritySolutions.com (easy to use)
Including the lump-sum present value (PV) of all future Social Security benefits plus home equity as part of a client’s portfolio can greatly alter portfolio design. Including these two assets can mean the stock portion of the portfolio should increase by 20 percentage points or more.
By 2030, the elderly population is expected to be larger than young Americans. The pool for caregivers will be smaller. The most populous caregiver age group is 45-64; those most likely to need long-term care are those age 80+. According to AARP, the caregiver group is expected to fall to 4 (caregiver) to 1 (care needed) by 2030, compared to > 7 to 1 in 2010.