“Investing in Long-Term Care Now Can Help America Age Well,” AHIP

“Let employees use cafeteria plans and flexible spending arrangements to buy LTC coverage. Allowing LTC coverage to be provided under a cafeteria plan would make it more affordable. Most employees would simply shift their cafeteria plan/FSA dollars from other pre-tax benefits to LTC coverage. That means it would have limited impact on the tax dollars received from employees.*
Allow retirement plans to invest directly in LTC coverage. This improvement will allow Americans to treat their LTC coverage like any other retirement plan investment. The impact on seniors’ tax revenue would be minimal, because they would be using existing retirement plan savings to protect themselves from LTC expenses.
Allow employees to make additional contributions to their Health Savings Accounts (HSA) to pay for LTC plans. This approach provides more flexibility and choice, allowing employees to save more pre-tax dollars to buy LTC coverage for themselves or their spouse.* Encouraging people to invest now to cover future health care expenses will likely save more taxpayer dollars long-term.”
 
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Three good ideas from AHIP. Targeting Medicaid to the needy could pay for them.

#goldencareagent
#AHIP
#agewell