Is Long Term Care Insurance Tax Deductible? [Dan Tripp]

Quick answer: Is Long Term Care Insurance Tax Deductible Dan Tripp affects roughly 1 in 4 adults in our practice. Effective treatment starts with a targeted diagnosis, conservative-first treatment, and escalation only when needed. We treat this regularly at our Howell and Bloomfield Township practices. Book online, or call (810) 206-1402.

✅ Medically reviewed by Dr. Tom Biernacki, DPM — Board-Certified Podiatrist · Last updated April 6, 2026

Is Long Term Care Insurance Tax Deductible? [Dan Tripp]

Is Long Term Care Insurance Tax Deductible? [Dan Tripp] 👉Is Long Term Care Insurance Tax Deductible? We review if it is financial tax deductible?👈 👉What is a tax-qualified long-term care policy? Most long-term care policies are tax-qualified (Always check with your insurance specialist for specifics like Dan Tripp). -term care insurance policies come with tax-free benefits and deductible premiums. This means that insureds are generally not taxed on the benefits they receive from these policies. Also, the premiums can be deductible as unreimbursed medical expenses if the insured meets the adjusted gross income (AGI) threshold. Your insurer can tell you whether your long-term care policy is tax-qualified or not. The rules for deductibility and tax-free benefits can differ at the state level. Check with your tax adviser to confirm the rules for your state. 👉Is tax insurance policies tax deductible? Long-term care insurance premiums can be costly. The IRS allows qualified taxpayers to deduct a portion of their long-term care insurance premiums on their tax returns based on their age. Generally, you must itemize deductions and have expenses that exceed the AGI threshold to qualify. There is an exception for qualified self-employed individuals. Consult your financial advisor to learn more about your long-term care insurance policy and how you can deduct it from your tax return. Get Home Care Assistance in Michigan with Assisting Hands Home Care:

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Our Recommended Products: https://www.michiganfootdoctors.com/recommended-foot-doctor-products/// 📢See a Physician!📢 See a Physician if you have a health issue. This information is NOT specific to your medical problem. If in Michigan, consider seeing us:

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Directions: https://g.page/r/Ca4Dg-JS_3XPEAE 👉– LINKS –👈 (With some links, we use affiliate links and may earn a commission. Check with your doctor before using any product!) 📢Disclaimer:📢 This video and description contain affiliate links, which means we may receive a commission if you click on one of the product links. Thank you for your support of this channel! This is opinion only: Do not consider this video a substitute for professional medical advice, diagnosis, or treatment for the viewer or reader. We strongly urge you to contact your physician with any questions regarding your medical condition. If you have an emergency, call 911 immediately or see your physician. Do not allow this information to let you disregard your professional’s medical advice or delay seeking information from this content. Do not rely on information provided by this general education video. Healthcare practitioners: The content here is for education purposes only. The authors have done their best to provide the most up-to-date, evidence-based information, but this content should definitely not be considered any type of medical standard. It does not reflect individual practices in other geographic areas. This is strictly for medical education purposes only, and it is not intended for diagnosis or treatment. The information in these videos is the author’s opinion and is not an official opinion of any organizations that the authors may be a part of. The authors or speakers are not associated with any of the above products.

Getting Expert Foot and Ankle Care in Michigan: Balance Foot & Ankle

Michigan patients with any foot or ankle concern — from chronic pain and structural deformity to wound care, nail problems, and sports injuries — can receive expert podiatric evaluation at Balance Foot & Ankle. Our fellowship-trained podiatric surgeons provide the full spectrum of podiatric care, combining conservative and surgical options tailored to each patient’s specific diagnosis, activity level, and treatment goals. We are in-network with major Michigan insurance plans including Blue Cross Blue Shield of Michigan, Aetna, UnitedHealthcare, Cigna, Medicare, and most Medicare Advantage plans. Both of our Michigan offices — Howell at 4330 E Grand River (serving Livingston County) and Bloomfield Township at 43494 Woodward Ave #208 (serving Oakland County and northern Metro Detroit) — offer new patient appointments, in-office digital X-ray, and dedicated parking. Michigan patients ready to address their foot or ankle problem can call (810) 206-1402 to schedule with Balance Foot & Ankle.

Michigan Podiatry: Connecting Whole-Body Health to Foot and Ankle Outcomes

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Related Treatment Guides

• Plantar Fasciitis & Heel Pain Treatment
• Custom 3D Orthotics
• Sports Foot & Ankle Injury Treatment
• Bunion Treatment

Foot and ankle health does not exist in isolation from the rest of the body — conditions including diabetes, peripheral arterial disease, obesity, rheumatoid arthritis, and gout have significant and direct effects on the foot. At Balance Foot & Ankle, we understand the intersection between systemic health and podiatric outcomes and coordinate with our patients’ primary care physicians, endocrinologists, rheumatologists, and vascular surgeons when managing complex conditions. Michigan patients managing chronic systemic conditions who have developed foot complications — neuropathy, circulatory insufficiency, inflammatory arthritis of the foot joints, or gout attacks — can receive coordinated podiatric care that integrates with their existing medical management. Our goal is to optimize foot function and prevent complications within the context of the patient’s overall health picture. Michigan patients with complex health histories affecting their foot and ankle health can call Balance Foot & Ankle at (810) 206-1402 to schedule at our Howell or Bloomfield Township office.

Medical References & Sources

• American Podiatric Medical Association — Patient Education
• American Orthopaedic Foot & Ankle Society — Foot Conditions

Podiatrist-Recommended Products for Seniors & Long-Term Care Patients

Proper foot care is essential for seniors and long-term care patients. Diabetic-friendly footwear, compression socks, and orthopedic support can prevent serious complications and reduce the need for costly medical visits.

Related resources: Best Diabetic Socks 2026 | Best Orthopedic Slippers 2026 | Custom 3D Orthotics

Get Expert Help at Balance Foot & Ankle

If this condition is affecting your daily activities or hasn’t improved with home treatment, schedule an evaluation with Dr. Tom Biernacki. We offer appointments at our Howell and Bloomfield Township locations and accept most insurance including Medicare. Most patients are walking comfortably within 4-6 weeks of starting our protocol — conservative care first, surgery only when needed.

Call (810) 206-1402 or request an appointment online. Our team responds within 1 business hour during clinic days.

Visit Balance Foot & Ankle — Online Booking 24/7

Our podiatry team serves patients throughout Michigan including Howell, Brighton, and Bloomfield Township. If you’re dealing with heel pain, ingrown toenails, or a foot injury, you can book online 24/7.

No insurance? Our self-pay pricing is $200 for your first visit and $100 for each follow-up — exam, X-rays, and any treatment done that day included, with no surprise billing.

More questions patients ask

Are long-term care insurance premiums tax deductible?

Traditional long-term care insurance premiums are partially tax-deductible as medical expenses, subject to age-based limits set by the IRS. For 2024, deductible amounts per person are: age 40 or under: $470; ages 41–50: $880; ages 51–60: $1,760; ages 61–70: $4,710; age 71+: $5,880. These are deductible only to the extent total medical expenses exceed 7.5% of adjusted gross income (AGI) on Schedule A. Self-employed individuals can deduct premiums as a business expense up to these same age-based limits — a significant advantage. Maintaining health to delay LTC needs reduces overall costs — Balance Foot & Ankle in Howell and Bloomfield Township, MI — call (810) 206-1402.

Can businesses deduct long-term care insurance premiums for employees?

Yes — businesses can deduct LTCI premiums as a business expense: C-corporations can deduct 100% of LTCI premiums paid for employees (including owner-employees) with no AGI limitation — the most favorable tax treatment. S-corporations and partnerships have more complex rules depending on ownership percentage. Sole proprietors and self-employed individuals can deduct up to the age-based IRS limits without needing to itemize. LTC benefits received are generally tax-free up to $420/day (2024 IRS limit). Many employers now include LTCI in benefits packages. Consult a tax advisor for your specific situation — Balance Foot & Ankle in Howell (4330 E Grand River) and Bloomfield Township (43494 Woodward Ave #208) — call (810) 206-1402.

Are long-term care benefits received tax-free?

Generally yes — LTC insurance benefits received are tax-free in two ways: indemnity (per diem) policies pay a fixed daily amount tax-free up to the IRS limit ($420/day in 2024; any excess above actual LTC costs plus this limit may be taxable); reimbursement policies pay actual qualified LTC expenses and are fully tax-free. LTC benefits used to pay qualified long-term care services (nursing home, assisted living, home care) are not included in taxable income. This tax-free treatment makes LTC benefits significantly more valuable. Hybrid life/LTC policy benefits follow similar rules. Balance Foot & Ankle serves seniors in Howell and Bloomfield Township, MI — call (810) 206-1402.

Can you use an HSA to pay long-term care insurance premiums?

Yes — Health Savings Accounts (HSAs) can be used to pay LTCI premiums, subject to the same age-based IRS limits that apply to the deduction: $470 (age ≤40), $880 (41–50), $1,760 (51–60), $4,710 (61–70), $5,880 (71+) for 2024. HSA funds used for LTCI premiums are tax-free (no tax on withdrawal for this qualified expense). This provides a triple tax advantage: HSA contributions are pre-tax, growth is tax-free, and qualified withdrawals are tax-free. HSA funds can also pay actual long-term care costs. Contributing to an HSA while healthy specifically to fund future LTC is a smart strategy. Balance Foot & Ankle in Howell and Bloomfield Township helps seniors stay healthy — call (810) 206-1402.

What is a partnership long-term care insurance policy and what tax benefits does it offer?

Partnership LTCI policies are special policies approved in over 40 states that offer Medicaid asset protection in addition to standard LTC benefits: when a partnership LTCI policy pays out benefits, an equal dollar amount of your assets is protected from Medicaid spend-down requirements if LTC benefits are exhausted and Medicaid is needed. This allows middle-class individuals to protect assets that would otherwise be required to be spent on care before Medicaid eligibility. Partnership policies meet specific state requirements. Tax treatment is identical to standard LTCI. They're particularly valuable in states with high nursing home costs. Balance Foot & Ankle in Howell (4330 E Grand River) and Bloomfield Township (43494 Woodward Ave #208) — call (810) 206-1402.

Still have a question about coverage or cost? Book online and we will check your benefits before your visit: Book in Howell · Book in Bloomfield Township. Prefer to talk it through first? Call (810) 206-1402.