Good News | How Much Will Your LTC Clients Save Under 2020 Tax Deductible Limits?


New 2020 Tax Deductible Limits for LTCi Just Announced

Increased tax deductible limits can be a significant benefit for those with tax-qualified long-term care insurance policies, according to the American Association for Long-Term Care Insurance.

The following are the just-announced 2020 limits (2019 in brackets):

Attained Age Before Close of Taxable Year 2020 Limit  (2019)
40 or less $430  ($420)
More than 40 but not more than 50 $810  ($790)
More than 50 but not more than 60 $1,630  ($1,580)
More than 60 but not more than 70 $4,350  ($4,220)
More than 70 $5,430  ($5,270)

Click here for the entire announcement (AALTCI)

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