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Bureau of Insurance
OTHER PFR AGENCIES
I understand that for some long-term care policies the insured person may deduct premiums on the Maine income tax return. For what policies is this deduction available?
For long-term care insurance, it is the number of days that you pay out-of-pocket before the insurance company begins to pay benefits.
Before July 1, 2009, insurers offered only traditional long-term care insurance policies. Now insurers can sell partnership policies as well. A list of Bureau approved partnership policies is posted here. If you have a long-term care partnership plan, you may be able to keep assets of a greater value than normally allowed for enrollment in MaineCare (Medicaid). MaineCare cannot recover this higher asset value from your estate.
We have a Guide to Long-Term Care in Maine available online, which provides additional information, including a list of insurance companies currently selling long-term care policies in Maine. If you prefer to receive this publication by mail, please call our Consumer Health Care Division at 1-800-300-5000 (in Maine) or 207-624-8475, or email us at email@example.com.
Last Updated: November 19, 2014
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