Wednesday, October 14, 2009
Long-Term Care Annuities to Go Tax Free
Think shelling-out for your own home-health services, an assisted-living facility or nursing-home care may be in your future? Good news: Come New Year’s Day, these services can be yours tax-free.
Thanks to the Pension Protection Act of 2006, starting Jan. 1, 2010, you’ll no longer have to pay federal income tax on an annuity’s proceeds — if you use those proceeds to pay for long-term-care coverage. That means that the chronically ill or disabled will no longer have to rely solely on a regular long-term-care insurance policy or Medicaid to fund their medical and non-medical care...
SmartMoney: Long-Term Care Annuities to Go Tax Free
Thanks to the Pension Protection Act of 2006, starting Jan. 1, 2010, you’ll no longer have to pay federal income tax on an annuity’s proceeds — if you use those proceeds to pay for long-term-care coverage. That means that the chronically ill or disabled will no longer have to rely solely on a regular long-term-care insurance policy or Medicaid to fund their medical and non-medical care...
SmartMoney: Long-Term Care Annuities to Go Tax Free
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