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April 01, 2009 at 08:00 PM
Washington
Lawmakers have launched a new effort to help consumers pay for long term care insurance through cafeteria plans and flexible spending arrangements.
In addition to permitting workers to pay for LTC insurance through cafeteria plans and FSAs, the new Senate bill, S. 702, the Long-Term Care Affordability and Security Act of 2009, would add consumer protection standards drawn from a model law approved by the National Association of Insurance Commissioners, Kansas City, Mo.
The original co-sponsors of the bill, which is similar to LTC insurance cafeteria plan bills introduced in earlier congresses, include Send. Amy Klobuchar, D-Minn.; Blanche Lincoln, D-Ark., Susan Collins, R-Maine; John Ensign, R-Nev.; and Lindsey Graham, R-S.C.
The Association of Health Insurance Advisors, a division of the National Association of Insurance and Financial Advisors, Falls Church, Va., is welcoming the introduction of the bill.
