Is The Cost Of Long Term Care Insurance Tax Deductible? 
Could be . Since I am not a certified accountant , I can not give tax advice but here are the parameters for possible tax-advantaged treatment to discuss with a tax professional : 1 . Every year the IRS publishes the formula of percentage of premium by age that can be used for favorable tax treatment on the 1040 tax return . This formula is updated on various tax preparation software programs every year and certainly qualified tax advisors know what it is . It is also public information that can be obtained at various websites .2 . If the premium causes one to exceed the minimum percentage of health care costs on Schedule A , that amount above the minimum percentage could be deductible .3 . If one is a business owner , the above mention formula may be used on Schedule C to determine the deduction allowable as an amount paid for health insurance premiums .4 . C-corps may be able to ignore the IRS formula and deduct 100 % of the long-term care insurance premium on Schedule C.There may be other situations in which the payment of LTCi premium is treated in a tax-favorable manner . This is a topic for discussion with a qualified tax advisor before a consumer should make any assumptions about the tax treatment of the payment of long-term care insurance premiums . 