Long-term Care Tax Deduction a Relief for Thousands of Families
AHIA applauds the propulsion of long-awaited above-the-line deduction to forefront of Senate agenda
For Immediate Release
Contact: Caitlin Kubler 703/770-8251, CKubler@naifa.org
March 10, 2005
FALLS CHURCH, VA - The Association of Health Insurance Advisors (AHIA), the health insurance division of the National Association of Insurance and Financial Advisors (NAIFA), applauds the introduction of proposed legislation that includes support for caregivers and a provision to allow an above-the-line tax deduction for the cost of long-term care insurance (LTCI) premiums.
"The bipartisan support for the Ronald Reagan Alzheimer's Breakthrough Act of 2005, introduced by Senators Bond and Mikulski, can offer much needed relief for families struggling to provide loved ones with the best long-term care possible," said Fred R. Bean, AHIA President.
The Americans for Long-Term Care Security (ALTCS, www.ltcweb.org), a coalition which includes AHIA, reports that more than 6 million elderly Americans need assistance from family or friends if they are to live at home; and that an estimated two-thirds of all home care assistance is provided free of charge by family members or friends.
"No one wants to be considered a burden to their families, which is what LTCI is designed to avoid. LTCI provides choice and alleviates some of the financial as well as physical responsibilities for relatives."
ALTCS also reports that more than half of the U.S. population will require some type of long-term care during their lives ľnursing home care, home health care, assisted living facility care, or rehabilitation facility care.
"Our agents have long-supported legislation that would increase Americans' choices for the type of long-term care they choose to receive which can include visiting nurses, home health aides, friendly visitor programs, home-delivered meals, chore services, adult daycare centers, and respite services for caregivers who need a break from daily responsibilities," said Bean.
For information about long-term care and long-term care insurance, visit http://www.ahia.net/consumers/guide_ltc.html/ or request AHIA's Long-Term Care Guide ahia@naifa.org.
The mission of the Association of Health Insurance Advisors (AHIA) is to advocate for a positive legislative and regulatory environment, enhance business and professional skills, and promote the ethical conduct of our members.
AHIA members are NAIFA Federation members actively involved in the sale of group and individual health related products including disability, long-term care, critical illness, Medicare supplement insurance and work site products
Founded in 1890 as the National Association of Life Underwriters, NAIFA's umbrella of organizations includes the Association for Advanced Life Underwriting (AALU), the Association of Health Insurance Advisors (AHIA) and GAMA International.
