Yes, you can use HSA (Health Savings Account) funds to pay for Long Term Care Insurance. There is a limit on what the premium can be that comes from the HSA. In 2012, the limit for someone age 40 was $340/year while the limit for someone age 71 or older was $4,240/year.
The Long Term Care policy must be guaranteed renewable, not have a cash value that can be depleted before use, and not reimburse what Medicare will reimburse. Also, if there are refunds, they must be used to reduce premiums or increase benefits.
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The Long Term Care policy must be guaranteed renewable, not have a cash value that can be depleted before use, and not reimburse what Medicare will reimburse. Also, if there are refunds, they must be used to reduce premiums or increase benefits.