A. No. To qualify for the tax exclusion, a cafeteria plan must offer a choice between cash and certain qualified . Unfortunately, the list of IRS-approved benefits for this purpose does not include any products marketed, advertised or offered as long-term care insurance. Tip: Don’t be deterred. It’s generally possible to provide company-paid long-term care insurance to select employees. The benefits will represent a tax-free fringe to those employees (assuming your business is a C corp).
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