Congress now is considering a second version of a major long term care insurance bill. H.R. 2096, the Long Term Care Affordability and Security Act, would allow long term care insurance to be included in employer-sponsored cafeteria plans and flexible spending accounts. Plan participants could pay for LTC insurance with pre-tax dollars.

The bill also would create new federal LTC insurance consumer protections based on provisions in a model developed by the National Association of Insurance Commissioners, Kansas City, Mo.

H.R. 2096 was introduced by Reps. Earl Pomeroy, D-N.D., Allyson Schwartz, D-Pa., Charles Boustany, R-La., and Ginny Brown-Waite, R-Fla.

Members of the Senate introduced a similar bill, S. 702, in March. The Senate bill was introduced by Sens. Amy Klobuchar, D-Minn.; Blanche Lincoln, D-Ark., Susan Collins, R-Maine; John Ensign, R-Nev.; and Lindsey Graham, R-S.C.

The American Council of Life Insurers, Washington, welcomed the introduction of the House version of the bill.

“This bill reflects the importance of long term care insurance as a retirement security product,” ACLI President Frank Keating says in a statement.