2020 Tax Deductible Limits For Long-Term Care Insurance Announced

The just announced increased 2020 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. “Tax deductibility for your long-term care insurance is a great subsidy especially after retirement, but only a small segment of newly purchased long-term care insurance policies offer the tax deductible opportunity,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). The Internal Revenue Service just announced the increased limits for tax deductibility of long-term care insurance premiums. According to IRS Revenue Procedure 2019-44, a couple age
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Categories: GoldenCare News, Industry News, and Long-Term Care.