Does Long Term Care Insurance Qualify For Self Employed Health Insurance?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Yes, Long Term Care Insurance qualifies for self employed health insurance, as a tax deduction. The deduction is taken on form 1040, line 29, and is for the self employed person, their spouse and their dependents. The maximum long term care insurance annual premiums that are allowed to be deducted per person are based on age and are as follows:
    Under age 40 - $350
    Age 41-50 - $660
    Age 51 - 60 - $1,310
    Age 61 - 70 - $3,600
    Age 71+ - $4,370
    Answered on July 31, 2013
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