The Senate’s bankruptcy bill, which would force more bankruptcy filers to pay back their debts, includes a series of tax provisions that have not received much publicity. Some of these provisions could affect long-term care and retirement planning.

• The bill includes a new deduction for 100% of premiums paid for long-term care insurance.
• The bill would increase the maximum tax-favored contribution that an employee is permitted to make to a 401(k) plan from $10,500 to $15,000.
• The bill would increase the maximum benefit that a retiree can receive under a defined benefit pension plan from $135,000 per year to $160,000 per year.
• The bill would create a new tax deduction for the purchase of health insurance for taxpayers who pay at least 50% of the cost of their own health insurance premiums.