Bill > SB00212

This bill establishes a tax credit for individuals and groups who purchase long-term care insurance policies, which are designed to cover the costs of care for individuals who can no longer perform certain daily living activities. Specifically, the bill allows policyholders to claim a tax credit equal to any increase in their annual premium payments that exceeds two percent of the total premiums they paid that year. This means if your premiums go up by more than 2% of what you paid, you can get a tax credit for that extra amount. Furthermore, if the tax credit is more than what you owe in taxes for that year, you can carry over the unused portion of the credit to future tax years, providing a financial benefit for those investing in long-term care coverage.

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https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00212&which_year=2026