Hillary Clinton’s Long Term Care Insurance Tax Savings Plan
As the race for the White House heats up in Iowa 2 days before the Iowa Caucuses, Hillary Clinton outlined her plan to help Americas plan for their future long term care needs with tax incentives to save money on long term care insurance. The first program would help out the people actually providing long term care by offering a $3,000 Care-giving Tax Credit: Hillary Clinton will offer a new $3,000 Care-giving Tax Credit to any person with major long-term care needs or to their caregivers. The Hillary Clinton plan also provides a new Long-Term Care Insurance Tax Credit: Hillary’s plan will offer a new tax credit to help those planning for their long-term care needs afford high-quality insurance policies that are right for them. This new tax credit will cover 75 percent of long-term care insurance premiums up to $1,500 per year for qualified long-term care insurance policies that meet the new consumer protection requirements.
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