openPR Logo
Press release

Long Term Care Insurance Expert Authors Book On Tax Deductible Long Term Care Protection

06-15-2011 11:45 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Association Marketing

Long term care insurance expert Jesse Slome

Long term care insurance expert Jesse Slome

The cost of long-term health care insurance may be fully tax deductible according to long-term care insurance expert Jesse Slome.

The author of the Guide To Tax Deductible Long-Term Care Insurance, published by the American Association for Long-Term Care Insurance, notes that the vast majority of consumers and even many accountants and tax professionals are not fully aware of the current tax rules.

In general individual taxpayers who itemize their tax deductions can treat premiums paid for tax-qualified long-term care insurance as a personal medical expense. The tax-deductible limit is based on the person's attained age. For 2011, Slome, who is AALTCI's executive director, points out that the per-person tax-deductible limit ranges from a low of $340 to as much as $4,240. The levels change from year to year.

The book points out that Federal and State governments are offering increased tax incentives to motivate more Americans to purchase protection. "The costs of long-term care financially devastate many and force people into public welfare programs that are already cash-strapped," Slome notes. Some 8.1 million Americans currently have long-term care insurance purchased on an individual basis or through their employer.

According to the book, self-employed individuals can deduct tax-qualified long-term care insurance premiums as a trade or business expense similar to traditional health and accident insurance. explains tax rules for individuals as well as those who are self-employed or own small businesses. The applicable rules vary including limits for allowable tax deductions.

"Small business owners may be able to take advantage of special tax rules that may make the full cost of long-term care insurance federally tax deductible," Slome adds. "The business may be able to pay for spouses and designate coverage for selected employees on a tax-advantaged basis."

A growing number of states are offering deductions and tax credits to individuals who purchase long term care insurance. That may be one of the reasons that some 475,000 Americans obtained new coverage last year, Slome concludes.

The American Association for Long-Term Care Insurance is the national trade organization focused on educating individuals about the importance of long-term care planning. The Association's Consumer Information Center was voted the #1 source for information by consumer interest group rating and can be accessed at

American Association for Long-Term Care Insurance
3835 E Thousand Oaks Blvd
Westlake Village, CA 91362

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Long Term Care Insurance Expert Authors Book On Tax Deductible Long Term Care Protection here

News-ID: 179412 • Views:

More Releases from Association Marketing

40 Sessions Set For Association's Virtual Long Term Care Insurance Conference
40 Sessions Set For Association's Virtual Long Term Care Insurance Conference
An extensive program focused on the marketing and selling of long term care insurance and hybrid long term care solutions has been set for the American Association for Long Term Care Insurance's 2014 national conference. "In addition to the several hundred who will be attending the actual event, we expect several thousand insurance agents and financial advisors will be viewing sessions broadcast live from the LTC Summit," announced Jesse Slome, executive
Millennials Confused About Long Term Care Insurance Planning
Millennials Confused About Long Term Care Insurance Planning
A marked increase in requests for information and price quotes for long term care insurance by individuals born starting with the early 1980s is the result of confusion regarding the Affordable Care Act, also known as Obamacare. "We have seen a marked increase in the number of young men and women calling for and requesting online information pertaining to long term care insurance," cites Jesse Slome, executive director of the American

More Releases for Slome

Covid-Experience Creating New Insurance Sales Opportunities For Agents
The Covid experience is going to make people very aware of their health vulnerability and that presents insurance agents with an opportunity. "Covid has changed how people view their health and more individuals will be interested in understanding how to plan for future risks," explains Jesse Slome, director of the American Association for Long-Term Care Insurance as well as the American Association for Medicare Supplement Insurance. "Insurance agents are already
Free Online Directory Connects Seniors With Local Medicare Insurance Agents
To help Medicare eligible seniors the American Association for Medicare Supplement Insurance has expanded the organization's online directory listing local Medicare insurance agents. "Medicare is enormously complex and finding the best option and cost can be overwhelming," explains Jesse Slome, director of the national organization. Slome notes that Medicare's Annual Election Period (AEP) begins October 15th. "Medicare AEP is a peak decision time for millions who are already on Medicare," Slome
Critical Illness Insurance Association Relaunches Website
The American Association for Critical Illness Insurance has relaunched the organization's website designed to create heightened awareness of and interest in cancer insurance as well as critical illness insurance. "We intend for the new website to be the nation's primary and trusted resource for information," shares Jesse Slome, director of the organization first founded in 2009. "Millions of Americans between the ages of 35 and 55 could greatly benefit
Discounts On Select Overseas Adventure Travel And Safari Tours
A number of last minute travel deals can save individuals as much as $2,500 shares passionate world traveler Jesse Slome. "The latest specials just announced by Overseas Adventure Travel can save couples anywhere from $1,600 to $5,000," Slome shared. The discounts are being offered on a variety of popular tours. The discounts are available on OAT's Safari Serengeti tour with departures in February and March. Discounts are also available
Women Buying Majority Of Life Plus Long-Term Care Insurance Policies
Sales in 2010 of life insurance policies offering long-term care benefits surged 79 percent for the industry's leading insurance carriers. According to annual research conducted by the American Association for Long-Term Care Insurance women comprised just over 60 percent of new buyers the study found. "Linked life insurance policies that offer long-term care benefits experienced significant growth in 2010," states Jesse Slome, the national trade organization's executive director. "Consumers are finding Will Host Voice Over Demonstration Booth at SLOME 2011 will be setting up an interactive display booth at the Skills London Oxford Middlesex Elgin (SLOME) event for London, ON area students. SLOME is presented by the Elgin Middlesex Oxford Workforce Planning and Development Board on Monday May 11 from 8:00am - 3:30pm at the Western Fairgrounds, Agriplex Building. Visitors to the booth will have the opportunity to test-drive what it’s like to be a voice actor by participating in