I like Nebraska’s thinking on saving for aging services. What do you think? Taking a leadership role they’ve launched a savings option called The Long-Term Care Savings Plan. Here are some key elements of the first such state plan in the United States:– You can put $1,000 ($2,000 filing jointly) in an account to qualify for savings that’s state-tax free until withdrawn. They’re looking to increase those contribution limits.- When withdrawn they can be used to pay for a multitude of aging services, including home care, nursing care, assisted living, technology and other services.- If the account is not used, and the account holder dies, it can be passed on to a spouse or other family members.- At the age of 50, the account holder can withdraw savings tax-free to pay for long-term care insurance. There are a number of appealing things about Nebraska’s program:– It elevates the importance of planning ahead for aging services and makes you think about how you want to live if you need assistance or care.- It allows you to save money beyond traditional retirement accounts.- It gives you flexibility. You ultimately determine what services your dollars buy.- If you want to buy long-term care insurance, but don’t want to buy it in your 30s and 40s (which the vast majority of Americans don’t), you can use your savings to pay for premiums later in life.- You can pass the accumulated savings to heirs for them to use to pay for aging services, undescoring the need that even though we might come from different generations, we likely all will have the need for some type of assistance and care. And we have to pay for it.