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Clinton signs Long Term Care Security Act.

Federal employees to have more affordable LTG insurance options

PRESIDENT CLINTON RECENTLY SIGNED into law the Long Term Care Security Act, which allows the Office of Personnel Management (OPM) to negotiate with private insurers to offer more affordable long term care insurance policies to federal employees, retirees, and their families. This will make available a new insurance option to 13 million Americans, and will serve as a model program for private employers throughout the nation.

The President also urged Congress to take additional legislative steps, such as to pass a $3,000 tax credit for the chronically ill; to reauthorize and strengthen the Older Americans Act by adding a new caregivers initiative; and to pass a voluntary Medicare prescription drug benefit.

Although it is difficult to quantify, the economic cost of caregiving for families ranges from $4,800 to $10,400 per caregiver, according to one study cited by the White House.
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Publication:Contemporary Long Term Care
Date:Nov 1, 2000
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