The limitations for eligible long term care insurance premiums includible in the term "medical care" are:

Attained age before the close of the 2008 taxable year:

40 or less: $310 (up from $290 in 2007)

More than 40 but not more than 50: $580 (up from $550 in 2007)

More than 50 but not more than 60: $1,150 (up from $1110 in 2007)

More than 60 but not more than 70: $3.080 (up from $2950 in 2007)

More than 70: $3,850 (up from $3680 in 2007)

PER DIEM LIMITATION

The Internal Revenue Code 7702B(d)(4) states that for calendar year 2008, the per diem limitation reguarding periodic (daily) benefit payments received under a TAX QUALIFIED Long Term Care Insurance Plan is $270. Amounts over the $270 daily limit could be taxed unless used for qualified long-term care services either in the home or in a facility. A definite decision has not been made on this matter, so it would be best to not exceed the $270 daily LTC benefit.