Another Perspective on Health Care Reform

This article provides some insight regarding the worries of the current health care reform legislation:

http://journalstar.com/news/opinion/editorial/article_3950e160-d9fc-11de-8bbc-001cc4c03286.html

Updated Information on the CLASS Act & Health Care Reform

Please follow this link to receive some additional information regarding the analysis of the long term care insurance portion of the proposed health care reform legislation.

http://www.huliq.com/7306/88907/congressional-long-term-care-insurance-plan-faulty-says-medicares-actuary

A Good Reminder from The Boston Herald

Please click on the link for a story in The Boston Herald:

http://www.bostonherald.com/business/general/view/20091117nows_time_to_invest_in_long-term_care/

Myths & Realities of Long Term Care

This article summarizes the realities of people needing to plan for long term care.

http://www.thestarpress.com/article/20091108/BUSINESS/911080317

November is Long Term Care Awareness Month

Here is a link for a great article regarding long term care insurance.

http://www.hattiesburgamerican.com/article/20091106/LIFESTYLE/911060337

LTCi Tax Advantages for C - Corporations

If you are a business owner and file taxes under a "C-Corp" assignment, there are some fantastic tax advantages for purchasing long term care insurance. The following information was found at the American Association for Long Term Care Insurance (www.aaltci.org):

Subchapter C Corporation
When a business purchases a tax-qualified LTCi policy on behalf of any of its employees, or their spouses and dependents, the corporation is entitled to take a 100% deduction as a business expense on the total premium paid. The deduction is not limited to the aged-based Eligible Premiums.

The purchase of a tax-qualified LTCi policy is not subject to any non-discrimination rules, thus allowing an employer to be selective in the classification of employees it elects to cover.

Planning Tip: Premium payments generally will be tax deductible when the class is based on such factors as the officers of the corporation and length of service (e.g. company pays for all those who are Senior Vice President or higher and have been with the company for 12 or more years). Tax rulings have stipulated that the class cannot, however, be based on stock ownership.

Tax Savings Tip: The use of Ten-Pay or Accelerated Premium plans provide higher tax deductions for the Corporation and enable the long-term care insurance premium to be fully paid-up by the time the owner retires (no ongoing premiums) or sells.