Improving Access to Long-Term Care Act of 2002

[AI summary unavailable — showing source text] Improving Access to Long-Term Care Act of 2002 - Amends the Internal Revenue Code to permit a deduction for eligible long-term care premiums for coverage for a taxpayer, spouse and dependents. Sets deduction amounts. Reduces amount by a specified figure if the modified gross income of the taxpayer exceeds $20,000 (or $40,000 for a joint return, with such values adjusted for inflation). Makes ineligible for the deduction an individual covered for long-term care under a health plan maintained by an employer in which 50 percent or more of the cost is incurred by the employer. Forbids long-term care deduction from also being taken as a deduction for medical expenses or self-employed health care expenses under specified parts of the Code. Permits deduction whether or not taxpayer itemizes. Allows additional personal exemption for each spouse or dependent with "long-term needs" in a taxpayer's home. Defines "individual with long-term care needs." Sets limits for amount of such exemption.…