LINCOLN, Neb. (AP) — Nebraska lawmakers are looking at tax incentives for long-term care insurance to reduce the number of aging residents who rely on Medicare and Medicaid in the future.
Sen. Merv Riepe of Ralston presented the measure to the Legislature's Revenue Committee on Wednesday, saying it would encourage younger residents to purchase private coverage to help pay for their care.
The bill would allow residents to claim an income tax credit equal to 25 percent of the premiums paid for a long-term care insurance policy, up to $250 for an individual and $500 for a joint policy. Residents could only claim the credit if they were not previously enrolled in a plan.
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