See FAQ section for more detailed information
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Eligible participants: Any Nebraska citizen.
How much can be saved: Up to $170,000 per person for the life of the account, adjusted for inflation.
Type of account: Any savings or investment vehicle selected by each individual Nebraska financial institutions.
Nebraska tax deduction: Annual $1,000 deduction for individual returns, $2,000 deduction for joint returns; earnings used for defined expenses are tax free.
Click here to submit a letter to your Senator.
Required contributions: All contributions are voluntary.
Qualified distributions: Long-term care expenses at any age or long-term care insurance after age 50 for the account holder, spouse or other person in whom the account holder has an insurable interest.
Penalty for unqualified withdrawal: 10% of total withdrawal
Federal tax benefit: Nothing at this time. Write to your senator! Hagel and Nelson
Long-term care reimbursement examples: Licensed nursing or assisted living facility, in-home assistance, basic therapeutic care, health maintenance activities, home health services, qualified home modifications, assistive technology, adult day care, rehabilitation treatments, respite and hospice care.