November 13, 2008 -- Long Term Care Associates today posted the inflation adjusted tax tables for 2009 which affect the amount of premium individuals may deduct on their federal tax returns.  This information will be freely available to the public on its website until the 2010 numbers are published by the Internal Revenue Service.  The limitations for eligible long-term care premiums includible in the term "medical care" are based upon one's attained age before the close of the 2009 taxable year and are indexed to inflation.  The deductible amounts rose approximately 3.3% over last year.  Also rising was the stated dollar amount of the "per diem" limitation regarding periodic payments received under qualified long-term care insurance contracts, up to $280 per day (from $270 per day in 2008).

“Our research indicates that some of the most powerful endorsements toward the purchase of long-term care insurance come from the government, and there is no more powerful endorsement than giving Americans cash back to spend on a private solution the government cannot afford to solve on its own, " said LTCA President and 28 year industry expert Robert Forman, “Including the Federal tax deduction, there are now some 30-odd states which offer either some form of Tax Credit or Deduction as well, and the indexing mechanism is an important feature to ensure that policyholders can leverage the fullest extent of the tax relief during our challenging economy."

Besides those taken by individuals, the most common long-term care tax deductions are those taken in the employer-based market.  These can be generous, although complex, and grant benefits to both employer and employee in C-Corporations, Partnerships, and Limited Liability Companies, to name a few.  Questions about the available federal and state tax deductions of long term care insurance can be directed online at LTCA's "Ask Us A Question" tool or you can speak with a Long Term Care Specialist at 1-800-742-9444.

About us:

LTCA, Inc. is headquartered in Bellevue, Washington.  With roots dating back to 1974 LTCA is one of the country's oldest and most distinguished long term care insurance marketing organizations.  Learn more about Long Term Care Associates at our website http://www.ltc-associates.com.  Questions about long term care insurance and long term care insurance quotes can be answered by a state licensed specialist at 1-800-704-9233, home of LTCA, the nation's most trusted long term care insurance resource.

Contact:

Robert Forman, President

LTCA, Inc.

1-800-742-9444

http://www.ltc-associates.com

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