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House gets new version of long term care bill.

Congress now is considering a second version of a major long term care insurance bill. H.R. 2096, the Long Term Care Affordability and Security Act, would allow long term care insurance to be included in employer-sponsored cafeteria plans and flexible spending accounts. Plan participants could pay for LTC insurance with pretax dollars.

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The bill also would create new federal LTC insurance consumer protections based on provisions in a model developed by the National Association of Insurance Commissioners, Kansas City, Mo.

H.R. 2096 was introduced by Reps. Earl Pomeroy, D-N.D.; Allyson Schwartz, D-Pa.; Charles Boustany, R-La.; and Ginny Brown-Waite, R-Fla.

Members of the Senate introduced a similar bill, S. 702, in March. The Senate bill was introduced by Sens. Amy Klobuchar, D-Minn.; Blanche Lincoln, D-Ark.; Susan Collins, R-Maine; John Ensign, R-Nev.; and Lindsey Graham, R-S.C.

The American Council of Life Insurers, Washington, welcomed the introduction of the House version of the bill.

"This bill reflects the importance of long term care insurance as a retirement security product," ACLI President Frank Keating says in a statement.

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Title Annotation:FRONTLINES
Author:Thomas, Trevor
Publication:National Underwriter Life & Health
Article Type:Brief article
Geographic Code:1USA
Date:May 4, 2009
Words:180
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