American Association for Long-Term Care Insurance

Insurance professionals committed to the future success of long-term care insurance are being urged by the American Association for Long-Term Care Insurance to submit comments and suggestions to the U.S. Department of the Treasury’s Federal Interagency Task Force on Long-Term Care Insurance.

“The Task Force is charged with developing policies at the federal level to complement reforms at the state level,” explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI).

The Task Force is chaired by Treasury’s Assistant Secretary for Economic Policy Michael Faulkender and includes representatives from the Department of Health and Human Services, the Centers for Medicare & Medicaid Services, the Internal Revenue Service, the Office of Management and Budget, the Department of Labor, and the Office of Tax Policy and the Federal Insurance Office within Treasury.

According to a federally-issued report, the Task Force held a public meeting last month at the Department of the Treasury.   Topics discussed included the social need for long-term supports and services, the individual private LTCI market, employer, group, and worksite products, state regulation of LTCI, the federal government and LTCI, and federal-state partnerships and other financing approaches.

“The Task Force is seeking input on potential reforms to federal laws, regulations and policies.,” shares Slome.  “We encourage those who have passion and opinions to submit their ideas.”  Comments can be sent via Email to LTCITaskForce@treasury.gov or in writing, in triplicate, to the Federal Interagency Task Force on Long-Term Care Insurance, Department of the Treasury, 1500 Pennsylvania Ave. NW, Room 3454 MT, Washington, DC 20220.   All comments or written statements must be submitted by 5 p.m. Eastern Time on Friday, August 30, 2019.

The American Association for Long-Term Care Insurance advocates for the importance of long-term care planning.   The organization connects consumers with knowledgeable professionals who are independent advisors for no-cost, no-obligation long-term care insurance quotes and policy comparisons.

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