07/09/2022
Your long-term care insurance policy may pay out tens of thousands of dollars per year in benefits if you end up needing care. However, the IRS paperwork for these policies can be confusing, and you may be wondering whether you'll be taxed on any of the benefits you receive. Here's what you need to know:
Are long-term care benefits taxable or tax-free? The answer depends on your contract terms. Here's what to know and how you can reduce your tax bill.