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HIAA Supports LTC Bill

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NU Online News Service, May 28, 2003, 12:05 p.m. EDT – The Health Insurance Association of America, Washington, is trying to round up support for H.R. 2096, the Long-Term Care and Retirement Security Act of 2003.

The bill, introduced by Reps. Nancy Johnson, R-New Britain, Conn., and Earl Pomeroy, D-North Dakota, would provide a $3,000 tax credit for individuals with long-term care needs or their caregivers.

The bill also would provide an above-the-line federal income tax deduction for the premiums individuals pay to buy long-term care insurance, and it would permit workers to buy long-term care insurance policies through employer-sponsored cafeteria plans and flexible spending accounts.

A broad-based coalition of seniors’ organizations, caregivers and insurance companies supports the bill, the HIAA says.