Long-Term Care Insurance Incentive Act of 1993

[AI summary unavailable — showing source text] TABLE OF CONTENTS: Title I: Tax Treatment of Long-Term Care Insurance Title II: Refundable Tax Credit for Certain Custodial Care Title III: Protection of Assets Under Medicaid Through Use of Qualified Long-Term Care Insurance Long-Term Care Insurance Incentive Act of 1993 - Title I: Tax Treatment of Long-Term Care Insurance - Amends the Internal Revenue Code to provide for the treatment of qualified long-term care insurance as accident and health insurance for purposes of insurance company taxation. Excludes from gross income benefits provided under a long-term care insurance contract. Includes in gross income employer-provided coverage for long-term care services. Allows a tax credit for a percentage of qualified long-term care premiums. Includes amounts paid for qualified long-term care services as medical expenses for individual itemized deductions. Includes any parent or grandparent as a dependent for purposes of such expenses. Provides for the nonrecognition of gain or loss on the exchange of any life insurance contract or an endowment or annuity contract for a long-term care insurance contract. Excludes from gross income certain amounts withdrawn from individual retirement ac…