qualified long-term care insurance contract
Defined in 3 places across 2 titles of the United States Code.
For purposes of this section, the term “qualified long-term care insurance contract” has the meaning given such term by section 7702B.
Source
- 1996–present26 U.S.C. § 4980CInternal Revenue Code · Requirements for issuers of qualified long-term care insurance contracts · for purposes of this section
Qualified long-term care insurance contract.—The term “qualified long-term care insurance contract” has the meaning given such term by section 7702B of the Internal Revenue Code of 1986.
Source
- 2000–present5 U.S.C. § 9001Government Organization and Employees · Definitions · for purposes of this chapter
The term “qualified long-term care insurance contract” means any insurance contract if—
(A) the only insurance protection provided under such contract is coverage of qualified long-term care services,
(B) such contract does not pay or reimburse expenses incurred for services or items to the extent that such expenses are reimbursable under title XVIII of the Social Security Act or would be so reimbursable but for the application of a deductible or coinsurance amount,
(C) such contract is guaranteed renewable,
(D) such contract does not provide for a cash surrender value or other money that can be—
(i) paid, assigned, or pledged as collateral for a loan, or
(ii) borrowed,
(E) all refunds of premiums, and all policyholder dividends or similar amounts, under such contract are to be applied as a reduction in future premiums or to increase future benefits, and
(F) such contract meets the requirements of subsection (g).
Source
- 201326 U.S.C. § 7702BInternal Revenue Code · Treatment of qualified long-term care insurance · for purposes of this title
The term "qualified long-term care insurance contract" means any insurance contract if—
(A) the only insurance protection provided under such contract is coverage of qualified long-term care services,
(B) such contract does not pay or reimburse expenses incurred for services or items to the extent that such expenses are reimbursable under title XVIII of the Social Security Act or would be so reimbursable but for the application of a deductible or coinsurance amount,
(C) such contract is guaranteed renewable,
(D) such contract does not provide for a cash surrender value or other money that can be—
(i) paid, assigned, or pledged as collateral for a loan, or
(ii) borrowed,
other than as provided in subparagraph (E) or paragraph (2)(C),
(E) all refunds of premiums, and all policyholder dividends or similar amounts, under such contract are to be applied as a reduction in future premiums or to increase future benefits, and
(F) such contract meets the requirements of subsection (g).
Source
- 1996–present26 U.S.C. § 7702BInternal Revenue Code · Treatment of qualified long-term care insurance · for purposes of this title