Navigation Links
Open Letter to Congress on Long Term Care Insurance and Health Care Reform
Date:9/23/2009

OVERLAND PARK, Kan., Sept. 23 /PRNewswire/ -- As the Senate Finance Committee (SFC) resumes work this week on the health care reform bill, The National LTC Network urges Congress to consider two ideas.

First, include an above-the-line deduction for long term care (LTC) insurance premiums. Although the current version of the SFC bill allows long-term care insurance to be included in Section 125 plans (aka "cafeteria plans"), Network President and CEO Terry Truesdell comments, "While we applaud this new tax incentive, we urge Congress to offer an above-the-line deduction for LTC insurance premiums. Many employees don't have Section 125 plans. If they do, they lose the plan once they retire. I believe that an above-the-line deduction could open the floodgates, encouraging citizens to purchase this important insurance and lessen the burden on government programs when they need care."

Second, at least one current version of a health care reform bill includes a government long-term care insurance program. The inspiration for the proposed bill is CLASS ("Community Living Assistance Services and Support"), a bill first proposed in 2007.

"Since the decision of how to pay for future long-term care is so important, we want to make sure that citizens understand both the pluses and minuses of any new government program," says Truesdell.

The Network urges Congress to include a "black-box" buyer warning on program materials if a CLASS-type program is adopted. Suggested wording:

  • You are not eligible for any benefits for the first 5 years after signup.
  • Your premium will increase if the government decides that additional money is needed to pay current and projected future claims.
  • Since the average cost of LTC nationally is $18.50/hour/licensed home health aide, $94/day/assisted living facility, and $183/day/semi-private nursing home room, even with this program, you could be responsible for a significant part of your care costs.
  • While some private LTCi policies (known as "Partnership") can protect your assets if you need to go on Medicaid, this government program does not.
  • You may want to supplement this plan, or replace it with, private long-term care insurance.

ABOUT NATIONAL LTC NETWORK

The Network is an alliance of leading distributors of long term care insurance. The Network has 30 member firms who work with thousands of long-term care insurance agents.

The Network site: http://www.NLTCN.com .

*(LOGO Link 72dpi: Send2Press.com/mediaboom/09-0923-NatLTC_72dpi.jpg)

This release was issued on behalf of the above organization by Send2Press(R), a unit of Neotrope(R).http://www.Send2Press.com


'/>"/>
SOURCE The National LTC Network
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. How Best to Treat Preschoolers With ADHD? The Harvard Mental Health Letter Discusses the Options
2. Arrow International Sends Letter Reminding Shareholders to Vote White Proxy Card in Support of Teleflex Merger and Election of Current Board of Directors
3. Specialty Blades, Inc. Announces Letter of Intent to Acquire Popper and Sons
4. AISHealth.com Introduces Three New Free Services: Health Business Daily Newsletter, Health Business Meeting Calendar, and Health Care Job Openings
5. TeamStaff Receives A Letter of Reprimand From Nasdaq; No Further Action Contemplated
6. Neurobiological Technologies, Inc. Announces Receipt of Determination Letter from NASDAQ
7. Fighting the Gassy Effects of Good Eating, From the Harvard Health Letter
8. Healthy Living Made Easy with New Diabetes Foodsmart e-Newsletter
9. Cautious Optimism for New Alzheimers Medications, Reports the Harvard Mental Health Letter
10. Mirixa Debuts RxFYI - a Free Pharmacy-Published Health eNewsletter Building Patient Loyalty and Generating Revenue
11. Long Term Care Newsletter Debuts, Published by LTC Financial Partners; Advice on Living Better, Not Just Longer, With Financial Protection
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2016)... Calif. (PRWEB) , ... April 28, 2016 , ... ... manufacturer specializing in the development of miniature microphones and headsets announced today that ... headset design method of integrating in-earphones into a structure. This innovative design creates ...
(Date:4/28/2016)... ... April 28, 2016 , ... Accreditation Commission ... Oncology Pharmacy Association (COPA) to develop a comprehensive Specialty Pharmacy Accreditation with Distinction ... an accreditation distinction. ACHC provides a wide range of pharmacy accreditation services that ...
(Date:4/28/2016)... ... April 28, 2016 , ... Starting today, ... the mail from USA Medical Prescription Assistance Program. They are customized to reflect ... mailed package will include a ready-to-use, state-themed card and, in the near future, ...
(Date:4/28/2016)... , ... April 28, 2016 , ... For the 10,000 ... getting smarter about an important part of overall well-being: mental health. Now, a new ... to promote healthy aging and “cognitive vitality,” which can include everything from honing your ...
(Date:4/28/2016)... , ... April 28, 2016 ... ... invitation to those affected by a health insurance co-operative bankruptcy to receive ... process, individuals can receive over 1,500 FDA-approved prescription medications from over 180 ...
Breaking Medicine News(10 mins):
(Date:4/27/2016)... April 27, 2016 Transparency Market ... Devices Market - Global Industry Analysis, Size, Share, Growth, ... report, the global skincare devices market was valued at ... expand at a CAGR of 10.1% from 2015 to ... Browse the full Skincare Devices Market (Treatment Device - ...
(Date:4/27/2016)... , April 27, 2016  Bayer Animal ... a senior from the University of Florida College ... the Bayer Excellence in Communication Award (BECA). Brittany ... which were awarded a total of $70,000 in ... last four years, Bayer has provided a total ...
(Date:4/27/2016)... YORK , April 27, 2016 ... OASM ), a developer of a new generation ... announced positive overall survival results for Paclical/Apealea in ... of 789 patients with epithelial ovarian cancer. These ... groups: Paclical/Apealea in combination with carboplatin versus Taxol ...
Breaking Medicine Technology: