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Long-Term Care Tax Breaks Reintroduced

Senate Finance Committee ranking member Chuck Grassley (R-Iowa) and Sen. John Kerry (D-Mass.) are introducing the Empowered at Home Act, which would allow individuals to take an above-the-line federal tax deduction for long-term care insurance premiums.

The proposed legislation would also allow employers to offer qualified longterm care insurance to employees for the first time as an option in cafeteria plans and through tax-free Flexible Spending Accounts.

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