In recognition of the enormous social and economic impact of long term care and the costs associated with that care, a bill was introduced in the House of Representatives to increase the accessibility of long term care insurance (LTCI) to Americans.
The “Long-Term Care Affordability and Security Act” would would permit LTCI to be included in employer-sponsored cafeteria plans and flexible spending accounts (FSAs), enabling people to pay LTCI premiums using pre-tax dollars.
You can visit govtrack.us to read the full text of the document and track the bill’s progress.
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This will make the LTC benefit tax qualified, educating the consumer is going to be a critical!