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Kiplinger
Kiplinger
Business
Gabriella Cruz-Martínez

Deduct Expenses for Long-Term Care on Your Tax Return

Tax Return Insurance IRS Medicare
Image shows piggy bank for medical savings.

The need for long-term care can happen at any point in your life, and the costs can be daunting.

According to the U.S. Department of Health and Human Services, among those turning 65 between 2021 and 2025, more than half (56%) can anticipate having at least some significant need for long-term care. The agency estimates that the average individual turning 65 will incur $120,900 in future long-term care costs.

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