The Internal Revenue Service (IRS) announced increased deductibility levels for individuals with long term care insurance policies in 2013.  According to Revenue Procedure 2012-41, the deductible limits range from a low of $360 to as much as $4,550 per person. The limits represent an increase from 2012, as follows:

Attained Age Before Close of Taxable Year 40 or less $360 (2012 is $350)
More than 40 but not more than 50 $680 (2012 is $660)
More than 50 but not more than 60 $1,360 (2012 is $1,310)
More than 60 but not more than 70 $3,640 ($3,500)
More than 70 $4,550 ($4,370)

For calendar year 2013, the per-diem limitation under Section 7702B(d)(4) for periodic payments received under a qualified long-term care insurance contract is $320 (the 2012 limit was $310).