My husband went into Memory Care facility in March. His Long Term Care insurance kicked in June 5 after a 90-day deductible period. It will pay out approx. $22,000 in 2022 directly to me. I will pay approx $68,000 directly to the facility. LTC policy was purchased in 2000 for $35,000 with no further premiums required. I am told it is a tax-qualified policy because they will send out a 1099R form to me. Two questions: (1) Is payment from LTC taxable income? (2) Is amount I pay to facility deductible as a medical expense or other expense?
