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Tax-Friendly Ways to Pay for LTCI

August 2016

Below are 4 ways that can make long term care insurance more affordable through tax-advantages: Tax-free withdrawals from an HSA (health savings account). Deduct long-term-care premiums as a medical expense. Make a tax-free transfer from an annuity. Make a tax-free transfer from permanent life insurance. For the full article and more information on these tax-friendly […]

Federal Government Offers Tax Breaks for Long-Term Care Planners

October 2015

In 1997, the federal government began offering tax incentives to reward people for buying long-term care insurance, including tax-qualified policies. Congress created tax-qualified policies to encourage consumers and insurance companies to embrace long-term care insurance. Under a tax-qualified policy, insurance premiums qualify as itemized deductions on federal tax returns. Additionally, benefits from a qualified policy […]