Free Site Registration


IRS Announces Increased 2013 Deductibility Limits For Long-Term Care Insurance

Print
Email
Reprints
October 19, 2012

October 18, 2012. The Internal Revenue Service (IRS) announced increased deductibility levels for long-term care insurance policies purchased in 2013. "For taxable years beginning in 2013, the limitations have been increased," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance (AALTCI), the industry's trade association. “Tax advantaged long-term care insurance remains one of the few remaining significant tax-savings benefits especially meaningful for small business owners." The deductible limits under Section 213(d)(10) for eligible long-term care premiums includable in the term ‘medical care’ are as follows:

Get access to this article and thousands more...

All Insurance Broadcasting news articles are archived after 7 days. REGISTER NOW for unlimited access to all recently archived articles, as well as thousands of searchable stories. Registered Members also gain access to exclusive insurance industry e-newsletters covering the latest breaking news, opinions from industry leaders, developing trends and product updates.

Already Registered?

 

Advertisement

Categories

Advertisement

Daily Quotes

  • “If you want to make your dreams come true, the first thing you have to do is wake up.” - J.M. Power
  • “Great ideas need landing gear as well as wings.” - C.D. Jackson
  • “Life's problems wouldn't be called "hurdles" if there wasn't a way to get over them.” - Author Unknown
  • “Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending.” - Author Unknown
  • “God gives us dreams a size too big so that we can grow in them.” - Author Unknown