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Below is a list of frequently asked questions regarding taxes on your long term care insurance benefit.
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I received a 1099-LTC — what is this and why did I get
one?
Unum is required to report any long term care benefits paid during the
year on IRS form 1099-LTC. The long term care benefits paid by Unum
are per-diem plan.
(Reference http://www.irs.gov/pub/irs-pdf/p525.pdf;
pg. 16, "Sickness and Injury Benefits: Long-term Care Insurance Contracts")
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I received a 1099-MISC — what is this and why did I
get one?
Unum is required to report any payment made in the course of doing
business. Some payments included on form 1099-MISC are for long term care
payments to health care facilities, payments made to medical providers and
survivor income benefits, among others. Please consult your tax advisor
regarding the taxation of these payments.
(Reference http://www.irs.gov/pub/irs-pdf/i1099msc.pdf)
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Other questions?
Please contact your dedicated Disability Specialist for other questions
regarding your claim. You may also contact the Tax Reporting Group at
1-800-845-2290 for tax related questions.
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