Are long term care insurance benefits taxable?
Generally not. And you can usually take a tax deduction for the
premiums you pay.Their are taxqulified plans and ones that or
Long term care insurance benefits are not taxable but long term
care insurance premiums can be. Depending on the type of policy,
there is tax qualified policy. But your premiums can be tax
deductible depending on your AGI and your age. For the year 2014,
the internal revenue has increased the tax deductibility for long
term care insurance premiums from $4,550 to $4,660.