According to a new story in the Eerie Times-News of Indiana, many types of life and health insurance premiums can be deductible for taxpayers.  It is true that some insurance products come with tax advantages that can save you money when Uncle Sam starts dipping in your pocket.

We’ve written extensively about this here.  In a nutshell, you can deduct your premiums in many small business setting and also if your health care expenses are 7.5% or more of your gross income.  The bottom line with this and all other issues is to ALWAYS consult a CPA/tax advisor prior to making any decisions that have tax implications.

Today in article in The Gazette of Colorado Springs talks of new home health care businesses coming in to Colorado Springs.  This growing sector of the economy is a hot bed for entreprenuers and is expected to continue to grow as baby-boomers begin to age and need the services of home health aides.  Long-term care insurance can pay for such care, which can be costly.

Home health care agencies send workers to homes, nursing homes and retirement facilities to deliver nursing and medical care for people with chronic diseases, infants, the disabled, patients recovering from surgery or injury, and the aging. Agencies might also supply employees to assist with daily living skills such as bathing, dressing and transportation.

Today, home health care is a $54 billion business.  What’s astounding is that the home health care industry is expected to double in the next five years!  The reason: all 76 million of the aging baby boomers are beginning to retire and more and more will begin to need assistance at home.

In Colorado, costs are running about $125 per day on average.  As the patient ages, it may be necessary to move from the home to an assisted living facility.  The idea of home health care is to stay in the comfortable environ of your home as long as possible.