RELEASE ON RECEIPT - November 27, 2006

TAX ALERT: A Big Deduction Many Taxpayers Miss, Cost of Long Term Care Insurance

Felton, CA, November 27 – As the end of the tax year approaches, many Americans may neglect a hefty deduction, the cost of long term care insurance, according to Barbara Hanson, California-based Partner of LTC Financial Partners, the nation’s most experienced long term care insurance brokerage.

"Those with long term care policies who itemize their deductions may be able to deduct a sizeable chunk of their premiums," says Hanson, "but many do not know this. They could be passing by hundreds to thousands of dollars." According to section 213(d)(10) of the Internal Revenue Code, the 2006 deductible amounts can be as high as --

• $3,530 if you're 70 or over*
• $2,830 if you're over 60 by not over 70*
• $1,060 if you're over 50 but not over 60*
• $530 if you're over 40 but not over 50*
• $280 if you're 40 or under*

*Before end of taxable year

For some people, especially business owners, the tax breaks can be quite substantial, Hanson emphasizes. "Bottom line, it can be like getting the coverage for practically nothing," she says.

How can you learn the exact federal and state tax breaks that may apply in your case? "It usually takes two experts to find out for sure," says Hanson, "your tax accountant and a specialist who keeps up with the latest LTC legislation." People can start by phoning Hanson at 831-335-4949 for quick feedback and then, if the caller wishes, Hanson will confer with the caller's tax preparer. There is no charge for this service.

Barbara Hanson has specialized in long term care insurance since 1995 and earned the respected status of Master Agent Emeritus from one of the largest long term care insurance carriers in the industry. Today, as an independent agent representing all major carriers, she is ideally positioned to help individuals, families, and businesses design customized long term care strategies to fit their budget. She has served her community as an active member of the Chamber of Commerce and is a major supporter of her local Alzheimer’s Association. Having had extensive personal experience with long term care in her previous career as an activity director in long term care facilities as well as in her own family, Hanson understands the challenges people face when a friend or family member needs help to stay home safely.

She has helped over 1,000 families plan for the potentially devastating financial risk associated with long term health care problems. Barbara shares her expertise through public seminars, guest media appearances, corporate education, and individual consultations.

MEDIA CONTACTS:
Barbara Hanson of LTC Financial Partners, Felton, CA - 831-335-4949 - www.eranova.com/LTCFP-BarbaraHanson
Jonas Roeser of LTC Financial Partners - 425-284-4863
Dick Samson of EraNova Institute for LTC Financial Partners - 973-335-3699 – media@eranova.com

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Photo of Barbara Hanson: