Is There A Tax Deduction For Long Term Care Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Tax Qualified Long Term Care Insurance is able to be deducted as a health insurance expense on income tax returns, if it is paid by the individual. If you are an individual, it is added with other medical expenses, and anything above 7.5% of your adjusted gross income is eligible for a tax deduction. If self employed, 100% of your long term care premiums are tax deductible, up to the federally designated premium guidelines.
    Answered on September 8, 2013
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