Click on the link below to review the Important Financial Planning Numbers publication that has the most current risk management and insurance planning numbers.
| Current Year | ||
|---|---|---|
| 2024 |
Below are some of the items related to risk management and insurance planning you can find in the above Important Financial Planning Numbers publication.
Click on the jumplinks below for additional information on a particular item.
Health savings account (HSA) contribution limits for individuals and families
Healthcare flexible spending account (FSA) contribution limit
Qualified longevity annuity contract (QLAC) mandatory starting age
Disability Income Insurance
The following tools can be used if you are estimating the disability income insurance need. A cash flow analysis should be used if you are recommending specific coverage.
If you are looking for resources to demonstrate the value of disability income insurance, here are some links to stories.
Medical Expense Insurance
The Federal government subsidizes premiums for many low- and middle-income families. They also subsidize out-of-pocket medical expenses for low-income families.
You can review the types of plans and their premiums by accessing the applicable health insurance exchange servicing your state. Many states have their own exchanges while others use the Federal government’s exchange. A good place to start is HealthCare.gov.
Health Savings Accounts (HSAs)
More information on HSAs can be found at:
Health Care Flexible Spending Accounts (FSAs)
More information on FSAs can be found at:
There is also an FSA for dependent-care expenses.
Long-Term Care Insurance (LTCI)
LTCI Consumer Information
Here is information on LTC that is geared towards consumers but would be helpful for financial professional as well.
You can use this information to demonstrate the current cost of LTC.
Medicaid Spousal Impoverishment
Medicaid spend downs are common for a couple in which one of the partners needs LTCI in a nursing home.
Qualified Longevity Annuity Contract (QLAC)
A Qualified Longevity Annuity Contract (QLAC) is a type of annuity that offers retirees a way to defer a portion of their required minimum distributions (RMDs) from their pretax retirement accounts, including traditional IRAs, until a later age.