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Since 1970 we have designed, critiqued, and brokered Long-Term Care Insurance. We research and bring to you the highest rated plans for Long-Term Care Insurance in Ohio. With over 60 years of combined experience, we can provide knowledge and insight that can only be gained through experience in this market.

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Long-Term Care:

Business Owner Incentives

Long Term Care Insurance and The Business Owner Tax Advantage

The Tax Advantages of Qualified Long-Term Care:

The purchase of Long Term Care insurance is more attractive than ever for employers due to tax advantages granted through the federal government. These tax advantages apply to tax-qualified Long Term Care insurance.(Section 213(d)(10) of the Internal Revenue Code) Tax advantages will vary depending on the taxpayer. The following outlines the key advantages.


LTC Calculator

All Companies:

Employers have the option of covering all employees or only certain employee classes. The employee and the employee’s spouse and dependents can be covered and receive the same tax advantages.


C-Corporations:

A corporate employer generally can take a business expense deduction for the entire (100%) amount of the LTC premiums paid for employees, their spouses and dependents. Employer-paid premiums for an employee, spouse or dependents are excluded from an employee’s income for tax purposes. The benefits received by the employee, spouse or dependents are generally income tax free.


Self-Employed Individuals:

The Self-employed are permitted to deduct a percentage of health insurance premiums for the Self-Employed individual, the individual’s spouse and dependents. Owner/Employees (Members) of LLC’s, S-Corps (2%+ Shareholders) and Partnerships who declare their health insurance premiums as income may also take advantage of the deduction. They may take 100% of the eligible LTC insurance premiums based on age.

2017 Federal Premium Limits

Taxpayers Age Deductible Limit at End of Tax Year
Age: Premium Limits:
40 or younger $410
41 - 50 $770
51 - 60 $1,530
61 – 70 $4,090
71 and over $5,110
If not eligible for a Federal deduction, check State availability.

Per Diem Limitation: The stated dollar amount of the per diem limitation under IRC section 7702B(d)(4) for 2017 will be $360.

2016 Federal Premium Limits

Taxpayers Age Deductible Limit at End of Tax Year
Age: Premium Limits:
40 or younger $390
41 - 50 $730
51 - 60 $1,460
61 – 70 $3,900
71 and over $4,870
If not eligible for a Federal deduction, check State availability.

Per Diem Limitation: The stated dollar amount of the per diem limitation under IRC section 7702B(d)(4) for 2016 will be $340.