Benefits paid by a qualified longterm care plan generally are not taxable as income. Benefits from a nonqualified longterm care plan may be taxable as income. Check with your tax advisor about the possibility of deducting a portion of the premiums paid in addition to the individual tax consequences involved.
Speak to an Experienced Insurance Attorney Today
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified insurance lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local insurance attorney to discuss your specific legal situation.
Your Next Step:
Enter your location below to get connected with a qualified Insurance attorney today.
Popular Attorney Searches: