When the Health Insurance and Accountability Act (HIPAA) was signed into a law, it has created improvements on health insurance, and the most significant adjustment made was the tax deduction for long term care insurance policies. The HIPAA added the Internal Revenue Code (IRC) Section 7702B that mandates all long term care insurance contracts to be treated as tax deduction under certain rules and limits.
Recently, the Internal Revenue Service (IRS) announced the increased long term care
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