WASHINGTON, D.C. – Missouri Congresswoman Ann Wagner (R-MO), Chair of the House Suburban Caucus, has introduced the Long Term Care Affordability Act, legislation that reforms the tax code to make long-term care insurance more affordable and accessible for seniors.
“Long-term care is often an insurmountable cost for many seniors who need a home health aide or similar care. My Long Term Care Affordability Act will enable seniors to cover the cost of long-term care by providing better access to retirement savings.
“Retirement can be expensive enough for seniors, and we should be using every tool we have to make their lives easier and more affordable. This legislation would do just that by providing for favorable treatment of long-term care through retirement accounts, allowing greater access to the necessary care they deserve.”
This bill is the House companion to Senator Pat Toomey’s legislation.
Read more information on the bill here.
Groups Supporting:
- Alzheimer’s Association
- Alzheimer’s Impact Movement
- America’s Health Insurance Plans (AHIP)
- American Seniors Housing Association
- Argentum
- Edward Jones
- Long-term Care Insurance Partners
- National Association of Insurance and Financial Advisors (NAIFA)
- National Association of Insurance Commissioners (NAIC)
- National Association of Health Underwriters