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

Plain English Breakdown

The effective date is listed as empty in the metadata, so it is unknown when this law takes effect despite passing the legislature.

Tax Credit for Long-Term Care Insurance Premium Increases

This law creates a tax credit equal to the amount by which long-term care insurance premium increases exceed two percent of annual premiums.

What This Bill Does

• Establishes a tax credit based on premium cost increases that go above two percent of total annual premiums.
• Applies to both individual and group long-term care insurance policies.
• Allows policyholders to carry unused credits over to future taxable years.

Who It Names or Affects

• People who purchase or are covered by individual long-term care insurance policies.
• People who purchase or are covered by group long-term care insurance plans with premium increases exceeding two percent of annual premiums.

Limits and Unknowns

• The official text does not specify a maximum dollar amount for the credit per person.
• It is unclear if there are specific eligibility requirements beyond having an individual or group policy with rising costs.
• The bill summary does not state which tax forms must be used to claim this credit.

Official Summary Text

To establish a tax credit equal to any increase in premium costs that exceed two per cent of premiums paid annually to purchase an individual or group long-term care insurance policy during a taxable year, and allow long-term care policyholders to carry such credit over to future taxable years.

Current Bill Text

LCO No. 25 1 of 1

General Assembly Proposed Bill No. 212
February Session, 2026 LCO No. 25

Referred to Committee on INSURANCE AND REAL ESTATE

Introduced by:
SEN. ANWAR, 3rd 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 the general statutes be amended to establish a tax credit equal 1
to any increase in premium costs that exceed two per cent of premiums 2
paid annually to purchase an individual or group long -term care 3
insurance policy during a taxable year, and allow long -term care 4
policyholders to carry such credit over to future taxable years. 5
Statement of Purpose:
To establish a tax credit equal to any increase in premium costs that
exceed two per cent of premiums paid annually to purchase an
individual or group long -term care insurance policy during a taxable
year, and allow long-term care policyholders to carry such credit over
to future taxable years.