For taxable year beginning in 2018, the limitations regarding eligible long term care premiums includible in the term ‘medical care”, are as follows:

Attained Age Before the Close of the Taxable YearLimitation on Premiums
40 or less$420
More than 40 but not more than 50$780
More than 50 but not more than 60$1,560
More than 60 but not more than 70$4,160
More than 70$5,200

This is quite a lot more to the possible tax deductions for long term care insurance.  Business’ have a wide range of choices.  LTCI is one of the few perks available for a business owner and corporate executives.   Give me a call to discuss how you can protect your income in retirement, and possibly lower your personal taxes during your working years.