Mr. Long Term Care
Let Care be our Long Term Commitment
I can safely say that the purchase of my LTC insurance was the wisest and most forward-thinking, financial decision of my life. - Mr. LTC

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"After age 65, Americans have more than a 70% chance of needing some form of long-term care."
-American Society on Aging

"An estimated 12.1 million Americans need assistance from others to carry out everyday activities."
- As noted on

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Recent Articles: Johnson-Pomeroy Long Term Care Insurance Bill on Leading Edge of Nation's Debate on Seniors' Retirement Needs

By: Alexis Starkey
Source: unknown
Date of Article: May 13, 2003

Passage of Retirement Security Act of 2003 Called Vital to Boosting Future Retirees' Ability to Save, Prepare for Retirement

For Immediate Release Washington, DC (May 13, 2003)- Saying passage of the Retirement Security Act of 2003 is vital to helping America's future retirees plan and save to meet increasingly expensive retirement costs, the American Health Care Association (AHCA) and National Center For Assisted Living (NCAL) today said helping Americans save for their retirement is among the most critical issues in the public policy spotlight.

"As we see the federal government's commitment to properly investing in Medicaid and Medicare consistently in question, it's more important than ever to provide individuals with the tools they need to take control of their own retirement and healthcare needs," stated Charles H. Roadman II, MD, CNA, President and CEO of AHCA/NCAL. "We are pleased to see growing bipartisan support to pass long term care tax incentives, and the dialogue underway represents the leading edge of debate on what is surely one of America's most substantial challenges."

Dr. Roadman said passage of the legislation, sponsored by U.S. Reps. Nancy Johnson (R-CT) and Earl Pomeroy (D-ND), is among AHCA's most important legislative goals in the current Session of Congress.

"We believe the tax incentives, consumer protections and other provisions offered in this legislation will not only make long term care insurance more attractive and affordable, but will empower individuals to choose whether their care needs can best be met at home, in a community-based setting, assisted living setting or in a nursing facility," continued Dr. Roadman.

"The Retirement Security Act of 2003 would serve as the cornerstone for more comprehensive reforms that must be enacted to ensure all citizens have the ability to choose the plan they see fit," Dr. Roadman said. He added that "such a comprehensive approach would include a targeted premium-support option in the form of a refundable tax credit -- a credit that would empower low- to moderate-income Americans to purchase private long term care insurance and take control of their own long term care planning needs."

The AHCA/NCAL President and CEO, noting that the average cost of a nursing home stay is at least $50,000 per year, said this price tag is well beyond the means of most American families and individuals - now and in the future.

Key provisions of the Retirement Security Act of 2003:

Provides for an "Above-The-Line" deduction of "qualified" long term care insurance premium costs. This will encourage the purchase of LTC insurance by everyone, including younger Americans, who will benefit by making their initial purchase when premiums are most affordable; Provides incentives for employers to offer LTC insurance polices to their employees by allowing LTC insurance to be offered in employer cafeteria plans and flexible spending accounts; Provides financial assistance for those who are already ill (or their caregivers) with a tax credit of up to $3,000 for those who require LTC services; Provides for additional consumer protections for long term care insurance. Concluded Dr. Roadman: "It's essential for every one of our citizens to have the means to choose the terms of their long term care needs - not have means of care imposed upon them by default.