Can I Deduct Long Term Care Insurance?

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   Brandon Roberts

   Owner, The Insurance Pro Blog,

   Yes, but the deduction is not a dollar for dollar deduction on the premiums that you pay.
   
   LTCi premiums are considered medical expenses under IRS rules meaning that premiums that exceed a certain percentage of your AGI can be deducted.
   
   There are further limitations on the amount of the premium that you can count for this deduction.  This amount grades up with age (i.e. you can deduct a greater amount the older you are).

   Answered on August 30, 2013

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