If the Long Term Care insurance policy that you have selected is Tax Qualified, then you will be able to claim the cost of your premium as a tax deduction under medical expenses. You can view the IRS Tax Publication 502 (Medical and Dental expenses) for further information and a detailed explanation of which services you can deduct. Because of the tax deductions, you should only consider a Long Term Care insurance plan that is clearly defined as “Tax Qualified”.

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