|
H.R. 2096 & S. 1335
The
Long Term Care & Retirement Security
Act is the leading legislative proposal
before Congress to address the nation's
growing Long Term Care needs. The
bill
proposes the following:
 |
Encourage private LTC coverage through
an "above-the-line" federal tax
deduction for LTC premium payments.
|
|
Bring relief to families currently
struggling with LTC need though a tax
credit of up to $3,000 per year. |
|
Allow LTC insurance to be offered under
cafeteria plans and flexible spending
arrangements (FSA's). |
-
-
The Ronald
Reagan Alzheimer's Breakthrough Act
of 2004 that was introduced in June
offers added hope that the Long Term
Care & Retirement Security Act (also
refered to as the Grassley-Graham
LTC tax incentives - the Senate
sponsors of S. 1335) will become
law. The bill's incentives - the
above-the-line LTCi deduction and
the long-term caregiver tax credit -
were added onto the Reagan
legislation, which calls for
substantial increases in research
funding for Alzheimer's Disease and
boosts the nation's investment in
caregiver support through respite
care, family counseling and tax
credits.
|
