The Association of Health Insurance Advisors is backing a new federal long term care insurance tax bill.[@@]
The bill, H.R. 2682, would provide an above-the-line deduction for individual expenditures on LTC insurance premiums and a tax credit of up to $3,000 per year for caregivers.
The bill also would permit employers to offer LTC policies through cafeteria plans and flexible spending accounts.
AHIA, an arm of the National Association of Insurance and Financial Advisors, Falls Church, Va., has put out a statement praising Reps. Nancy Johnson, R-Conn., and Earl Pomeroy, D-N.D., for introducing the bill.
“H.R. 2682 represents meaningful tax relief and is an important incentive for Americans to take greater personal responsibility for their long-term care needs,” says AHIA President-elect Debra Newman.