Many people don't realize that long-term care insurance premiums can be tax deductible as medical expenses, but there are age-based limits and strict requirements that determine how much you can actually deduct.

Is Long-Term Care Insurance Tax Deductible?

Quick Answer

Long-term care insurance premiums are tax deductible as medical expenses, but only the portion that exceeds 7.5% of your adjusted gross income. For 2026, deduction limits range from $480 for those under 40 to $5,960 for those 71 and older, based on your age at year-end.

Best Answer

Robert Kim, CPA

Best for taxpayers who itemize deductions and have significant medical expenses

How long-term care insurance premiums are deductible

Long-term care insurance premiums are treated as medical expenses under IRS rules, which means they're deductible if you itemize and your total medical expenses exceed 7.5% of your adjusted gross income (AGI). However, there are age-based limits on how much of your premium actually counts toward this deduction.

Age-based deduction limits for 2026

The IRS sets maximum deductible amounts based on your age at the end of the tax year:

Example: $75,000 income, age 55

Let's say you're 55 years old with an AGI of $75,000, and you pay $2,400 annually for long-term care insurance. Here's how the deduction works:

1. Age-based limit: At 55, your maximum deductible premium is $1,790 (not the full $2,400)

2. Medical expense threshold: 7.5% of $75,000 = $5,625

3. Other medical expenses needed: You'd need at least $3,835 in other qualifying medical expenses ($5,625 - $1,790) to get any deduction

4. If you have $7,000 in total medical expenses: Your deduction would be $1,375 ($7,000 - $5,625)

What qualifies as long-term care insurance

To be deductible, your policy must be a "qualified long-term care insurance contract" that:

Covers necessary diagnostic, preventive, therapeutic, curing, treating, mitigating, and rehabilitative services

Covers maintenance or personal care services for chronically ill individuals

Cannot provide for a cash surrender value or be paid out as a loan

Must generally require services to be provided under a plan of care

According to IRS Publication 502, the policy must also meet specific consumer protection requirements and cannot pay expenses covered by Medicare.

Key factors that affect your deduction

Your age: Older taxpayers can deduct more of their premiums

Total medical expenses: You need significant other medical costs to exceed the 7.5% threshold

Filing status: The 7.5% threshold applies to your total AGI regardless of filing status

Premium amount: You can only deduct up to the age-based limit, even if you pay more

What you should do

First, gather all your medical expenses for the year, including long-term care premiums up to your age limit. If your total medical expenses exceed 7.5% of your AGI, you should itemize rather than take the standard deduction. Use our return scanner to identify all qualifying medical expenses you might be missing.

Key takeaway: Long-term care insurance premiums are deductible as medical expenses, but only up to age-based limits and only if your total medical expenses exceed 7.5% of your income.

*Sources: [IRS Publication 502](https://www.irs.gov/pub/irs-pdf/p502.pdf), [IRS Publication 525](https://www.irs.gov/pub/irs-pdf/p525.pdf)*

Key Takeaway: Long-term care premiums are deductible up to age-based limits, but only if your total medical expenses exceed 7.5% of your income and you itemize.

Scan your return for missed medical deductions →

Age-based deduction limits for long-term care insurance premiums in 2026

Age at Year-End	Maximum Deductible Premium	Example Annual Premium	Deductible Amount
40 or younger	$480	$1,200	$480
41 to 50	$900	$1,800	$900
51 to 60	$1,790	$2,400	$1,790
61 to 70	$4,770	$4,000	$4,000
71 or older	$5,960	$6,500	$5,960

More Perspectives

Diana Flores, EA

Best for taxpayers who typically take the standard deduction and have lower medical expenses

Why this deduction might not help you

If you typically take the standard deduction ($15,000 for single filers or $30,000 for married filing jointly in 2026), long-term care insurance premiums probably won't provide any tax benefit. You'd need substantial medical expenses to make itemizing worthwhile.

The math for standard deduction filers

For a single filer with $60,000 income paying $1,500 in long-term care premiums:

Medical expense threshold: $4,500 (7.5% of $60,000)

Need $3,000+ in other medical expenses to get any deduction

Total itemized deductions would need to exceed $15,000 to beat the standard deduction

Unless you have mortgage interest, state taxes, or charitable giving, you're better off with the standard deduction

When it might still be worth tracking

Even if you can't deduct premiums this year, keep records because:

You might have higher medical expenses in future years

Your income might decrease (lowering the 7.5% threshold)

Other itemized deductions might increase (mortgage, charitable giving)

The standard deduction could change under new tax laws

Key takeaway: Most people taking the standard deduction won't benefit from this deduction, but it's worth tracking your premiums in case your situation changes.

Key Takeaway: Standard deduction filers usually won't benefit from this deduction unless they have very high medical expenses or other itemized deductions.

Robert Kim, CPA

Best for taxpayers over 60 who face higher long-term care costs and may have significant medical expenses

Why this deduction is more valuable for older taxpayers

If you're over 60, you can deduct much more of your long-term care premiums. At age 65, you can deduct up to $4,770 in premiums (2026 limits), and at 71+, you can deduct up to $5,960.

Example: Retired couple, both age 68

A married couple with $80,000 in retirement income, each paying $4,000 for long-term care insurance:

Combined deductible premiums: $9,540 ($4,770 each, their age-based limit)

Medical expense threshold: $6,000 (7.5% of $80,000)

If they have $8,000 in other medical expenses: Total medical = $17,540

Deductible amount: $11,540 ($17,540 - $6,000)

Tax savings: ~$2,770 (assuming 24% bracket)

Additional considerations for retirees

Medicare doesn't cover long-term care: This insurance fills a critical gap

State tax benefits: Some states offer additional deductions or credits

HSA coordination: If you have an HSA, you might use those funds for premiums

Estate planning: Premium payments reduce your taxable estate

Retirees often have multiple medical expenses (medications, treatments, equipment) that help them exceed the 7.5% threshold, making this deduction more accessible.

Key takeaway: Older taxpayers get higher deduction limits and often have enough medical expenses to make itemizing worthwhile, potentially saving thousands in taxes.

Key Takeaway: Retirees benefit most from this deduction due to higher age-based limits and typically having more medical expenses overall.

Sources

IRS Publication 502 — Medical and Dental Expenses
IRS Publication 525 — Taxable and Nontaxable Income

Is long-term care insurance tax deductible?