Tax Effects
& Incentives
The Federal Government passed
the Health Insurance Portability and Accountability Act
of 1996 (HIPAA). This act designated two types of long-term
care insurance policies. Tax Qualified policies may be eligible
for tax deductions and must adhere to standards set forth
by HIPAA. Non Tax Qualified policies are not eligible for
tax deductions and do not have to adhere to the standards
set forth by HIPAA.
Which is the best policy type
for your client? There are several variables that you, as
the agent, should be aware of. Contact
us and we can review these differences in more detail
and assist you in providing a recommendation for your client.
Click
here to see tax incentives for Tax-Qualified policies.
To
request a quote, click here. •
For
site feedback, click
here.
