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Biotech / Medical : Share your aches,pains,experiences,joys and cures.
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To: Travis_Bickle who wrote (835)5/27/2007 1:45:56 PM
From: Lane3   of 1564
 
Medicare doesn't cover that so you are out of pocket unless you qualify for Medicaid.

I recently discovered that it's not tax deductible, either. I had just assumed that it was.

When I bought long term care insurance a few years back, I planned the amount of money that I would need from my insurance based on the casual assumption that I would be able to put my entire pre-tax income into my care but that's not the case. I suppose if I had thought about it rather than casually assuming I would have recognized that long term care wouldn't qualify for medical tax deductibility unless you are sick enough to require constant medical care, but I never gave it a thought. So, this is for anyone planning for long term care who might be making the same assumption I did.
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