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	Insurance--Long-Term Care Insurance Long-term care tax implications Annuities Auto Insurance Small business insurance Long term care insurance -Long Term Care Insurance FREE QUOTE -How much coverage should you purchase? -Finding a long-term care insurance plan -Policy features of long-term care insurance -When to purchase long-term care insurance -Life insurance riders can pay for long term care -Long-term care tax implications Health Insurance Home Insurance Life Insurance Travel insurance Most long-term care policies are tax-qualified, which means that the premiums and out-of-pocket expenses for long-term care are applied to meeting the 7.5% floor for medical expense deduction. In other words, you can use the costs to meet the minimum requirement for deducting your medical costs. There are some limits, which are based on your age, for the total amount of premiums paid that can be applied to the 7.5% floor. Your tax advisor should be able to fill you in on the details. Employers are able to deduct as a business expense the cost of setting up a group long-term care insurance plan plus any contributions they make toward paying their employees' premiums. Employer contributions are excluded from the employees' taxable income. There are non-tax qualified long-term care plans available. The individual policies offer more generous benefits and use less restrictive triggers. However, the benefits from these policies may be considered as taxable income. Many states offer state tax incentives to purchase long-term care plans. The incentives range from full to partial deductions of long-term care premiums on state income taxes. Your state Department of Insurance will tell you if your state offers long-term care tax incentives.