Questions & Answers
What is the Long-Term Care Credit?
An income tax credit is available for Colorado residents who purchase or make a payment for a long-term care insurance policy. The credit is equal to 25% of the amount paid for the insurance during the year. The amount of the credit claimed may not exceed $150 per policy. To qualify for the long-term care insurance credit, you must
- Be a Colorado resident,
- Purchase or pay for a long-term care insurance policy for yourself or your spouse, and
- Not have income in excess of applicable limitations.