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Long-Term Care Insurance: Tax Preferences Reduce Costs More for Those in Higher Tax Brackets

GGD-93-110 Published: Jun 22, 1993. Publicly Released: Jul 23, 1993.
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Highlights

Pursuant to a congressional request, GAO provided information on the potential effect of applying various insurance premium proposals on long-term care insurance, focusing on how: (1) various tax incentives would affect long-term care policies, lifetime benefits, and individual costs; and (2) consumer age, tax bracket, and private or company-provided insurance would affect premiums.

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Health insuranceHealth insurance cost controlInsurance companiesInsurance premiumsInsurance regulationLong-term care insuranceMedicaidMedicareTax administrationTax exempt statusTax shelters