AN ACT ESTABLISHING A TAX CREDIT FOR PREMIUM PAYMENTS FOR CERTAIN LONG-TERM CARE INSURANCE POLICIES.

Plain English Breakdown

Checked against official source text during the last sync.

Tax Credit for Long-Term Care Insurance

This act creates a tax credit for individuals and groups who pay premiums for certain long-term care insurance policies that provide healthcare services in the insured person's home.

What This Bill Does

• Creates a new tax credit for individuals and groups who buy long-term care insurance.
• The tax credit is based on the amount of money paid as premiums for these insurance policies.
• This applies to policies that provide health care services in the insured person's home.

Who It Names or Affects

• People who pay for long-term care insurance
• Insurance companies offering long-term care plans

Terms To Know

Tax Credit

A reduction in the amount of tax a person or business has to pay.

Premiums

The regular payments made for insurance coverage.

Limits and Unknowns

• Does not specify how much the tax credit will be.
• Does not mention if there are limits on who can claim this credit.

Official Summary Text

To establish a tax credit for the amount of premiums paid to purchase an individual or group long-term care insurance policy that provides benefits for health care provided in an insured's home.

Current Bill Text

LCO No. 96 1 of 1

General Assembly Proposed Bill No. 71
February Session, 2026 LCO No. 96

Referred to Committee on FINANCE, REVENUE AND
BONDING

Introduced by:
SEN. SAMPSON, 16th Dist.

AN ACT ESTABLISHING A TAX CREDIT FOR PREMIUM PAYMENTS
FOR CERTAIN LONG-TERM CARE INSURANCE POLICIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That title 12 of the general statutes be amended to establish a tax 1
credit for the amount of premiums paid to purchase an individual or 2
group long-term care insurance policy that provides benefits for health 3
care provided in an insured's home. 4
Statement of Purpose:
To establish a tax credit for the amount of premiums paid to purchase
an individual or group long -term care insurance policy that provides
benefits for health care provided in an insured's home.