Long-Term Care Incentives Act of 1988

Long-Term Care Incentives Act of 1988 - Amends the Internal Revenue Code to permit a tax deduction of: (1) $10,000 to any taxpayer who maintains a household in which a chronically ill Medicare-eligible family member resides; and (2) 50 percent of premiums paid for qualified long-term care insurance covering at least 12 months of necessary diagnostic, preventive, therapeutic, rehabilitative, or personal care services that are provided in a setting other than an acute care unit of a hospital.