While these changes did lead to the greater numbers of
tax-qualified policies we see today, most LTCI customers still don't benefit much from increases in deductibility limits.
It was just business as usual: Millions of Americans worked hard for their families and their futures, and saved a portion of their compensation in a
tax-qualified structure-where they can be reasonably certain that the funds will be matched at some pre-set percentage, plus investment earnings.
It's unfair because not everyone is in a
tax-qualified plan and not everyone in one gets matching contributions.
Policy name:
Tax-Qualified Long Term Care Policy GR-N550
The hallmark of a
tax-qualified retirement plan is that it provides the contributing entity with an immediate tax deduction.
The House pension bill not only clarifies that the LTC portion of a contract may be
tax-qualified, but it goes further in that it generally treats the entirety of LTC insurance benefits, including amounts coming from annuity cash value, as a tax-free A&H insurance benefit.
According to the association, Citizens holds
tax-qualified loss reserves, manages the potential catastrophe exposure to the organization, insurers and policyholders, establishes
tax-qualified bonds and other debt instruments to finance catastrophe losses over time, and establishes a statutorily guaranteed right for insurers to pass through catastrophe loss assessment to policyholders.
s clients under the name FlexBenDirect, provides for reimbursement of
tax-qualified, unreimbursed expenses through health care FSAs and health reimbursement arrangements.
Not too many years ago, the model for a physician's retirement program consisted of one or more
tax-qualified retirement plans maintained by the professional corporation (PC) that employed the physicians in the practice and any staff personnel.
Here he reviews deferred compensation from taxable subsidiaries, enhanced
tax-qualified plans, severance benefits, and consulting contracts-additional options that may be available depending on the situation of the individual executive.
Tax-qualified retirement plans include 401(k), profit-sharing, defined benefit pension and employee stock ownership.
The prospects for "above the line" deductibility look promising for individuals who currently own, or purchase in the future,
tax-qualified longterm care insurance policies.
