Nearly nine million Americans deducted medical and dental expenses which can now include long-term care insurance premium costs according to a report released by the American Association for Long-Term Care Insurance.
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An AP poll suggests most Americans favor government run Long-Term Care services despite other options and the potential impact on taxpayers.
Individuals and businesses can take advantage of special tax treatment of Long Term Care Insurance policies. This makes it even more affordable to safeguard future retirement income & assets from high costs of extended care.
The Internal Revenue Service has announced the 2016 tax deductible limits for Long Term Care Insurance. Many state and federal tax advantages are available to help consumers make affordable LTC insurance part of their retirement.
A public policy group founder calls for additional tax incentives to help consumers buy LTC Insurance. Joseph Stango, founder of “Choice Centered Medicaid” is calling for additional tax benefits because of the financial risk.
Bill and Hillary Clinton might be paying too much in taxes. One thing they could do is deduct their LTC insurance. Bill helped make LTC premiums deductible and Hillary in the past has supported LTC insurance tax credits.