Tax break included in LTC insurance bill
Senators last week introduced a bill that would allow employees easier access to long-term care insurance.The Long-Term Care Affordability and Security Act would allow employees to pay long-term care insurance premiums with pre-tax dollars. Sens. Chuck Grassley (R-IA), Blanche Lincoln (D-AR), Olympia Snowe (R-ME), Debbie Stabenow (D-MI) and Gordon Smith (R-OR) sponsored the legislation.
Under the bill, employers could offer long-term care insurance under so-called cafeteria plans and would improve consumer protections for long-term care insurance. It moves to the Senate Finance Committee for consideration.