Los Angeles, CA, January 28, 2013 --(PR.com
)-- A guide explaining current tax advantages of purchasing and owning long term care insurance is now available.
"The tax deductibility of long term care insurance remains one of the best kept secrets," explains Jesse Slome, executive director of the American Association for Long-Term Care Insurance. The national trade group based in Los Angeles, CA has just announced availability of its annual guide describing tax advantages to individuals and business owners.
"The Federal government and a number of states recognize the importance of giving people an incentive to plan for the very real risk of needing long term care at some point in their life," Slome notes. "Tax deductions or even tax credits are available that are enormously beneficial, especially to business owners today."
According to the long term care insurance expert, individuals may be able to deduct as much as $4,550, the maximum level for 2013. "The Internal Revenue Service announces the increase each year so we annually update our guide to help or members educate people," Slome adds. "For individuals, the ability to deduct the costs of long term health care insurance is especially valuable after retirement when income drops, expenses increase and the likelihood of meeting medical expense limits increases," Slome shares.
Business owners today can benefit from significant added tax advantages. "Small business especially, those with between 10 and 50 employees today are a prime beneficiary because they can enjoy both tax benefits and the potential for small employer discounts offered by a number of leading long term care insurers," Slome concludes.
The 2013 guide is available in electronic format and is personalized with the agent's name and contact information. The cost for an electronic personalized version is a one time set up charge of $35 for members of the Association.
The American Association for Long-Term Care Insurance is the national association serving insurance and financial professionals who provide long-term care financing solutions. Membership in the organization costs $98 for a year and includes access to the nation's largest online long term care insurance Learning Marketing and Sales Center where a variety of etools can be found and utilized.