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12/6/2006
FOR IMMEDIATE RELEASE | | | | Wilson Introduces Long-Term Care Legislation
| Helps Seniors with Health Care & Housing in Retirement
Washington, DC – Congresswoman Heather Wilson introduced the Long-Term Care Improvement Act of 2006. The legislation would provide education and information to aging Americans to help them with difficult decisions on financing long-term care.
“Financing long-term care is one of the most important challenges facing our country in the next twenty-five years,” said Wilson. “The demographics point to an impending crisis in long-term care, unless Congress acts. This bill is intended to be a starting point for this effort.”
The Long-Term Care Improvement Act of 2006 would expand efforts to educate the public about health care and housing needs in retirement, including long-term care insurance options. It would add consumer protections to long-term care insurance, and encourage people to purchase long-term care insurance by making premium contributions tax-deductible.
Seventy-seven million baby-boomers are expected to retire in America by 2030. Currently, long term care relies heavily on Medicare and Medicaid. Medicaid, in particular, does not compensate for the quality of care people expect for their parents or grandparents. The projected growth in long term care expenses as baby boomers age has the potential to overwhelm the Medicaid program. It’s important to start addressing this problem early, so that people can plan for their sunset years.
“My legislation would make several changes to long-term care insurance to make it a more appealing product, encouraging more private dollars in the system,” said Wilson. “This is the beginning of a developing national strategy on long-term care.”
The legislation would also require more analysis of the adequacy of government payment to skilled nursing facilities.
“We should be willing to pay for the quality of care we expect for our parents,” said Wilson.
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