Back to Glossary

Tax-Qualified Policies

Quick Answer

A Long-Term Care policy which meets certain requirements will qualify for favorable tax treatment. Buyers of Tax-Qualified (TQ) plans can deduct the premiums if they itemize deductions on their federal tax return based on their Adjusted Gross Income itemization requirement. The maximum deductible amount depends on age and is adjusted annually for inflation. 

Recommend This Page

Detailed Answer

A Long-Term Care policy which meets certain requirements will qualify for favorable tax treatment. Buyers of Tax-Qualified (TQ) plans can deduct the premiums if they itemize deductions on their federal tax return based on their Adjusted Gross Income itemization requirement. The maximum deductible amount depends on age and is adjusted annually for inflation. Premiums are treated like other health insurance and medical expenses. Self-employed individuals and corporations (S-Corp, C-Corp, LLC) also have favorable tax-treatment with a tax-qualified Long-Term Care policy.

LTC News Trusted & Verified

Get Accurate Quotes

Work With A Trusted Specialist

  • Has substantial experience in Long-Term Care Insurance
  • Strong understanding of underwriting, policy design, and claims experience
  • Represents all or most of all the leading insurance companies
man and woman sitting at desk

Step 1 of 4

Find a Specialist

Get Started Today

Trusted & Verified Specialists

Work with a trusted Long-Term Care Insurance Specialist Today

  • Has substantial experience in Long-Term Care Insurance
  • A strong understanding of underwriting, policy design, and claims experience
  • Represents all or most of all the leading insurance companies

LTC News Trusted & Verified

Compare Insurers

+

Claim this listing

Fill out this short form

Step Number:

1
2
3

Request Listing Edit

Tell us a little bit about yourself.

Step Number:

1
2
3

Are you a customer of this business, or are you an employee?