Can You Deduct Long Term Care Insurance Premiums? 
Yes , Long Term Care premiums can be deducted under schedule A -LRB- itemized deductions -RRB- of your form 1040 . If you add your Long Term Care premiums to your other health insurance premiums , co-pays and out of pocket expenses , you can deduct the amount that exceeds 7.5 % of your adjusted gross income -LRB- AGI -RRB- . 