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Calculators
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Self-Investing Calculator
See how LTC Insurance compares to investing based on your interest rate percentage
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Tax Calculator
Compare the plan premiums to the Washington State employee LTC payroll tax
In the News
I don't have a spare $150,000, so long-term care insurance is absolutely worth the cost
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Tax Incentives
Health Savings Account (HSA)
A type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. HSA money can reimburse tax qualified LTC insurance premiums based on the chart below.
Generally, life insurance with an LTC rider does not qualify.
| Attained Age in Tax Year | 2024 Limitations on Premiums |
|---|---|
| Age 40 or less | $470 |
| Age 41 to 50 | $880 |
| Age 51 to 60 | $1,760 |
| Age 61 to 70 | $4,710 |
| Age 71 & older | $5,880 |
LTC Tax Credits or Deductions
Health Insurance Portability and Accountability Act (HIPAA)
Health Insurance Portability and Accountability Act of 1996 (HIPAA)
Favorable Tax Treatment of Qualified LTC Insurance Plans
An individual and spouse are eligible to deduct a tax qualified LTC insurance premium under IRC 7702(B) as part of their medical expenses that exceeds 10% of adjusted gross income.
Generally, life insurance with an LTC rider does not qualify.
The chart below shows the limit for the total amount of premiums deductions allowed based on age.
| Attained Age in Tax Year | 2024 Limitations on Premiums |
|---|---|
| Age 40 or less | $470 |
| Age 41 to 50 | $880 |
| Age 51 to 60 | $1,760 |
| Age 61 to 70 | $4,710 |
| Age 71 & older | $5,880 |
Tax qualified LTC insurance provides tax free benefits up to $410 a day for 2024.
Government Programs
Medicaid
A government program that covers LTC for individuals with low income and limited resources.
Medicare
The federal government program that provides health care coverage (health insurance) if you are 65+, under 65 and receiving Social Security Disability Insurance (SSDI) for a certain amount of time, or under 65 and with End-Stage Renal Disease (ESRD).
Long Term Care Partnership Program
Caregiver Resources
Care Finder
Get easy access to finding resources, community programs, and services.
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LTC Provider Network Discounts
View available discounts for nursing home, assisted living and home based care.
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Meal Assistance Services
Explore resources for grocery and meal delivery services.
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