Any LTC policy, TQ and non-TQ alike, minimally must pay for long term care as defined in the policy, but which is rendered in a place other than in an acute care facility such as a hospital. A non-Q policy may use language similar to the quoted TQ characterization, and is no better able to determine tax status than for a TQ policy. The Kinds of Care and Benefit Triggers in the Policy Determine Tax Qualification . A TQ policy always will contain coverage for care rendered in more than one facility. If the policy covers only one place, e.g., nursing home services, it will not qualify for the premium deduction.
Benefits are payable when the insured is chronically ill.
Benefits For Both Policies, Once Triggered, Are the Same. There is no difference between TQ and non-Q as to all policy benefits, monetary and otherwise, once requisite payment triggers are satisfied. This means that TQ and non-Q policies provide the same levels of covered care, i.e., skilled, intermediate and custodial services rendered in either an institutional, home or community setting. Beginning with the 2000 Tax Returns, Simplified Procedure for Deducting Premiums on State and Federal Returns. For tax returns through 1999, premiums federally deductible might not be Maine deductible, and confusion was persistent among LTC insureds for whom tax qualification was important.