Your long term care insurance policy may be eligible for a federal tax deduction. An Indiana Long Term Care Partnership Policy also qualifies for a state tax deduction.
Beginning with tax year 2013, the percentage of non-reimbursed medical expenses allowed as a deduction increased to 10% (was 7.5%).
A temporary exemption was given to individuals age 65 or older. The threshold remains at 7.5% of AGI for those taxpayers until December 31, 2016. Beginning tax year 2017, the 10% will apply to all individuals.