S Corp paid Long-term Care Insurance - How to Treat?

[bbrownatl]

I have a client who is the 100% owner of an S Corp and is paid a reasonable salary. During 2008, the S-Corp paid for the long-term care insurance of this individual. For year end reporting purposes, my understanding from TTB is that these amounts are added to the W2 similar to the payment for health insurance premiums. My questions are as follows:

1) Is that right, add to W2 as wages but are not subject to FICA.
2) If the health insurance is deductible on line 29 of the 1040 (See TTB p. 5-10), what is the treatment of the LTC insurance? Just a regular itemized deduction in excess of 7.5% of AGI?

Any insight appreciated.

Thanks,
Brian