Comprehensive Approach Applauded
AHIA endorses Johnson/Pomeroy LTC Legislation
For Immediate Release
Contact: Diane Boyle 703/770-8252, dboyle@naifa.org
June 1, 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 Representatives Nancy Johnson (R-CT) and Earl Pomeroy (D-ND) for their introduction of bipartisan comprehensive long-term care legislation in the 109th Congress.
"AHIA is pleased to endorse this comprehensive approach to providing long-term care security" states AHIA President-elect Debra C. Newman. "H.R. 2682 represents meaningful tax relief and is an important incentive for Americans to take greater personal responsibility for their long-term care needs" continues Newman.
The proposal would give individuals an above-the-line tax deduction for premiums paid for a qualified LTC insurance policy. "This incentive to transfer the risk of long-term care to insurance is needed. All too often the devastating costs associated with long-term care place undo burdens on families. LTC insurance offers the best way to cope with the financial drain of care" states Newman.
The bill would also allow employers to include the deduction provision for LTC policies in cafeteria plans and in flexible spending accounts. "Employees are use to receiving their benefits in the workplace. This provision assists employees in obtaining the coverage they need in a familiar setting," adds Newman.
For those with current long-term care needs, the bill would give individuals or their caregivers a $3000 tax credit to help cover their LTC expenses. "Certainly those currently in need and their caregivers are deserving of tax relief" declares Newman.
"AHIA looks forward to working with Congress to alleviate the burden on public programs and American families by enacting H.R. 2682" concludes Newman.
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.
