The long term care insurance (LTCi) marketplace is constantly changing, and there are several updates of which consumers should be aware. First, in the state of California, a new employee payroll tax is being considered. This tax will help fund a minimal amount of long term care benefits for residents. Additionally, traditional long term care insurance rates are increasing, which will impact consumers’ premiums. Finally, we believe a new fixed indexed annuity product is coming soon providing a solution to those unable to get traditional long term care insurance. Watch this video for more information on where the LTCi market is going.
Connect with a long term care insurance specialist to discuss these alternatives.