Can Long Term Care Insurance Be Deducted From Income Tax? 
Yes , many long term care insurance premiums can be deducted on income tax as a medical expense . The plans must be qualified LTCI plans . The Long Term Care Federal Tax Deductible Limits for 2013 are itemized on IRS Revenue Procedure : 2012-41 . These limits are age based . Here are how some of the deductions work . 1 -RRB- Working for someone else : Only the portion of total medical expenses that exceeds your adjusted gross income by 7.5 % can be deducted , using Schedule A on your tax return . If your employer pays the full LTCI premium , your employer may deduct the total expense . 2 -RRB- Self employed : The entire premium of you , spouse and dependents -LRB- up to federal age based limits -RRB- can be deducted on line 29 of tax form 1040 . 3 -RRB- C Corporation : 100 % of premium is deductible for employee , spouse and dependents with no age based limits on premium . 4 -RRB- State income tax deductions and/or credits 5 -RRB- Paying premium with HSA . 