New guide shows the government tax incentives to own a long term care policy
Individuals, business owners and human resource professionals who want an understanding of both federal tax incentives as well as state incentives will want to have the 8-page guide “Tax Breaks & Incentives for Long Term Care Insurance.” Updated for 2017, it includes information on tax incentives, Health Savings Accounts, and state Partnership Programs.
“This Guide includes information for individual taxpayers and business owners. Whether you’re looking for information on whether Long Term Care Insurance or LTCI is allowed in a cafeteria plan (no), if it is an acceptable expenditure for a Health Savings Accounts (yes), or whether Partnership programs are available in Minnesota (yes), the answer is in the Guide,” said Deb Newman, founder and CEO of Newman Long Term Care.
Long term care is a variety of services and supports to meet health or personal care needs due to an illness, accident or other disability. Long term care lasts more than 90 days and is characterized by needing assistance with activities of daily living or severe cognitive impairment. Long term care insurance is the only insurance product designed to meet this need.
For more information on any aspect of long term care insurance, or to receive the e-guide ”Tax Breaks & Incentives for Long Term Care Insurance” click here, or call 800-625-9267.