LTC and Retirement Security Act of 2005 (H.R. 2682)
Overview:
109th Congress (2005-2007)
Type: Tax Deductions and Credits; Tax-Free Exchanges; Use of FSA Funds and Cafeteria Plans
Key Components:
- Amend the IRC to: (1) allow a tax deduction from gross income for LTC insurance premiums; (2) include LTC insurance in employee benefit cafeteria plans and flexible spending arrangements; (3) allow a tax credit for certain LTC costs; (4) set forth certain consumer protections for LTC insurance contracts; and (5) allow tax free exchanges of LTC insurance contracts.
Key Authors:
- Rep. Nancy Johnson (R-CT)
House Ways and Means
LTC and Retirement Security Act of 2005 (H.R. 2682)
Category:
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