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Options 5 & 6: HSAs and Trusts
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Health Savings Accounts and Trusts round out the informational series on funding options for long-term care planning. HSAs are predicated on employment; some 43% of companies offer them. The greatest benefit of HSAs, arguably, is their tax-advantaged status - which is great for those who self-fund long-term care expenses. The downside is out-of-pocket high deductibles in order to qualify for these plans. Charitable Remainder Trusts, where you can transfer your assets in exchange for income that you can draw from for a lifetime to pay for long-term care expenses, may be a good choice for those who don't have children or heirs.
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