Over 30 states offer some kind of incentive for owning Long Term Care Insurance, whether by allowing a state deduction or a tax credit.
For example, in Minnesota, if you or your spouse/partner paid premiums in 2017 for a qualified LTCI policy, you may be able to receive up to $100 tax credit each if you file Form MLTI1. In 2013, it was reported that over 62,000 Minnesotans claimed this tax credit.
Download the 2017 MN Tax Credit form by clicking here or call us at 612-454-4400 and we’ll mail one to you.
Not sure if your state offers a tax incentive? Request our Free 2017 Tax Guide.