Consumers: Long-Term Care

Since 1970 we have designed, critiqued, and brokered Long-Term Care Insurance. We research and bring to you the highest rated plans for Long-Term Care Insurance in Ohio. With over 60 years of combined experience, we can provide knowledge and insight that can only be gained through experience in this market.

LTCi Premium Deduction Limits

  • Long Term Care Insurance Individual Tax Advantages

    The Tax Advantages of Qualified Long-Term Care :

    The purchase of Long Term Care insurance is more attractive than ever for individuals due to tax advantages granted through the federal government. These tax advantages apply to tax-qualified Long Term Care insurance (Section 213(d)(10) of the Internal Revenue Code). Tax advantages will vary depending on the taxpayer. The following outlines the key advantages.

    Individual Purchasers

    Medical and dental expenses that exceed 7.5% of adjusted gross income are deductible and taxpayers can now include eligible LTC premiums paid for themselves, their spouses and dependents as part of their medical expenses. Refer to the age-based Eligible LTC Premiums chart for the applicable tax year. Benefits paid are generally tax free.


    2010 Federal Premium Limits 
    Taxpayers Age Deductible Limit at End of Tax Year
    Age Premium Limits
    40 or younger $330
    41 - 50 $620
    51 - 60 $1,230
    61 – 70 $3,290
    71 and over $4,110

    * If not eligible for a Federal deduction, check State availability.*

    The per diem amount for 2010 is $290.



    2009 Federal Premium Limits 
    Taxpayers Age Deductible Limit at End of Tax Year
    Age Premium Limits
    40 or younger $320
    41 - 50 $600
    51 - 60 $1,190
    61 – 70 $3,180
    71 and over $3,980

    * If not eligible for a Federal deduction, check State availability.*

    The per diem amount for 2009 is $280.