Tax Treatment of Benefits

For Tax-Qualified Long-Term Care Insurance policies that pay benefits under an Indemnity Model, benefit payments are subject to a daily dollar cap.

2012 Daily Indemnity (Per Diem) Limit	2011 Daily Indemnity (Per Diem) Limit	2010 Daily Indemnity (Per Diem) Limit
$310	$300	$290

If the individual taxpayer receives Tax-Qualified Long-Term Care Insurance benefits in excess of this annual daily limit, those "excess benefits" will be considered income for tax purposes. However, the taxpayer may exclude from income the "excess benefits" to the extent of the individual's actual unreimbursed Tax-Qualified Long-Term Care expenses.

We do not provide tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax, and legal counsel.

“Not having a plan for extended care will have an impact on your family, health and your best thought out retirement plan.

Living a long life could well be in your future.

Planning for it is now a necessity

Call Les Robinson to help develop a LTC plan 1-800-836-2040 ext 3014

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