Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Long-Term Care Planning

Reform provision for long term care

X
Your article was successfully shared with the contacts you provided.

November is Long Term Care Insurance Month. As reform swirls in Washington, we thought we’d call attention to one important provision in particular. The health reform bill proposed by the House calls for a new federal long-term care benefit that would provide at least $50 per day for long term care expenses, the Wall Street Journal reports. Premiums would be deducted from workers’ paychecks at participating employers, but employees would have the opportunity to opt out. From the Journal:

“The program is meant to help address a looming problem in the U.S., where relatively few people have long-term care insurance to cover expenses if they need home care or a nursing home. Currently, the main federal resource for such coverage is Medicaid, which applies mainly to the poor. Medicare, the federal health program that covers the elderly, doesn’t include a long-term care benefit.”


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.