Reps. Johnson And Pomeroy On Target With Long-Term Care "Call To Action"

FOR IMMEDIATE RELEASE

CONTACT: Joe Luchok
September 27,  2000
(202) 824-1786
e-mail: jluchok@hiaa.org

The following statement was released today by Chip Kahn, President of the Health Insurance Association of America (HIAA):

Representatives Nancy Johnson (R-CT) and Earl Pomeroy (D-ND) are absolutely on target with today's "call to action" on long-term care financing.

Long-term care remains the nation's largest  unfunded liability, and Americans need to do more to protect themselves  against its often catastrophic cost. A year's stay in a nursing home  averages nearly $50,000, and in many major cities the cost is significantly  higher.

Private long-term care coverage helps protect families against these high costs and eases the financial, physical, and emotional burdens on  families providing LTC. It also provides peace of mind for millions of  Americans seeking to plan for their future long-term care needs. Additionally, people with private long-term care coverage have greater access to - and choice of - long-term care services.

Congress can take meaningful steps to help more Americans to plan for their long-term  care needs. An important step would be the enactment of the bipartisan Long-Term Care and Retirement Security Act, [2225 and HR 3872, sponsored by Senators Charles Grassley (R-IA) and Bob Graham (D-FL) and Representatives  Nancy Johnson (R-CT) and Karen Thurman (D-FL)], which would provide a 100  percent "above-the-line" tax deduction for private long-term care insurance,  and a $3,000 annual tax credit for long-term caregivers.

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