Can I Deduct Long Term Care Insurance? 
Yes , but the deduction is not a dollar for dollar deduction on the premiums that you pay . LTCi premiums are considered medical expenses under IRS rules meaning that premiums that exceed a certain percentage of your AGI can be deducted . There are further limitations on the amount of the premium that you can count for this deduction . This amount grades up with age -LRB- i.e. you can deduct a greater amount the older you are -RRB- . 