Long-Term Care Resources Plus: planning ahead with confidence
Preparing for the future is an essential part of financial wellbeing, and when it comes to long-term care, planning ahead makes a difference. Long Term Care Resources Plus (LTCR+) helps individuals and organizations navigate the complexities of long-term care so they can make informed choices and protect financial stability.
What is Long Term Care Resources Plus?
LTCR+ is a program designed to help individuals and employers understand and prepare for long-term care needs. Whether you’re seeking to protect your family’s future or looking for ways to enhance employee benefits, LTCR+ provides access to resources and strategies to support those goals.
Why long-term care planning matters
Long-term care includes services needed when an individual is unable to perform daily activities, such as bathing, dressing, eating or moving around. These services can be provided at home, in assisted living facilities or in nursing homes, and costs can quickly add up.
Recent studies show the average cost of a private room in a U.S. nursing home exceeds $100,000 annually, with expenses expected to rise. Without preparation, these costs can create financial strain for families.
How LTCR+ can help
The program is built to address common challenges by offering:
- Insurance solutions – access to a variety of long-term care insurance options tailored to individual needs, helping cover costs of care at home or in facilities
- Planning strategies – guidance to identify potential gaps in coverage and minimize financial risk
- Educational resources – webinars, materials and consultations to support informed decisions
- Employer programs – options for organizations to integrate long-term care planning into employee benefits
- Flexible payment options – choices designed to fit a range of financial situations
Tax considerations
Tax-qualified long-term care insurance may also provide benefits at tax time. Premiums may be deductible as medical expenses (subject to age-based limits and the 7.5% AGI threshold), and benefits paid are generally not taxable if they don’t exceed actual costs. Some states also offer tax credits or deductions for these policies, making long-term care planning more affordable.
Taking the next step
Planning for long-term care doesn’t have to be overwhelming. With the right information and support, you can put protections in place for yourself, your family or your employees.