Is Long Term Care Insurance Tax Free? 
As a rule , if you buy a tax qualified long term care insurance policy -LRB- as nearly all are , these days -RRB- , and if you are paying the premium yourself , there are tax advantages you will receive . If you are self employed , the entire premium is tax deductible . If working somewhere but paying your own premium for an individual or group policy , you can deduct the premium as a medical expense under the same IRS rules as apply to all medical expenses . In both situations , you also receive the benefits from the policy tax free , if they are ever needed . 