Offered as amendments this week during Senate debate on S. 1344, the long-term careinitiative allows taxpayers to make the cost of long-term care insurance fully tax deductible.
"This legislation would help people who do not have access to subsidized long-term carethrough their jobs," said Grassley. "It would allow them to deduct the cost of long-term careinsurance premiums from their taxable income. It makes sense for Congress to help Americansprepare and plan responsibly for long-term care, especially for their later years."
According to Grassley, the tax break would be a good incentive to attract younger peopleto buy long-term insurance earlier and make it more affordable for older patients who may be most in need. As the population ages, millions of Americans will face the considerable financialcosts of long-term care and the emotional toll it takes on family caregivers.
The National Alliance for Caregiving (NAC) reports the average caregiver spends $171 inout-of-pocket expenses monthly, approximately $2,000 per year. Plus, NAC estimates more than60 percent of caregivers has not taken precautions to help shoulder the financial burden.
"Easing the financial burdens that come with long-term care will alleviate some of thestrain long-term caregivers and receivers experience," said Grassley. "Plus, taxpayers stand togain in the long run if more Americans don't end up relying on the government to fund their long-term care."
The Iowa senator also advanced measures to expand consumer choice by increasing thepool of providers available to them under their managed care plan.
Grassley worked to ensure patients have access to certain providers or services, includingchiropractors and optometrists, who sometimes are excluded from participating in managed care
plans. This amendment would prohibit managed care plans from discriminating against classes ofproviders who are licensed to practice in their state.
In an effort to expand patients' access to providers who may not belong to their insuranceplan, Grassley built upon patient protections he sponsored for Medicare beneficiaries in 1997. The measure would give patients the freedom to choose a point-of-service plan when no suchoption exists. This would provide consumers with the security of insurance coverage to seeproviders outside their network, if they so choose.
"These initiatives are about choice, freedom and security," said Grassley. "It is aboutallowing patients to choose a plan or provider that best meets their health care needs."
The Senate package of patient protections also would make it easier to access specialists,emergency rooms and obstetricians-gynecologists; require coverage for overnight hospital stayswhen recommended by a doctor for women undergoing breast cancer treatment; give consumersmore information about their plans; and, permit appeals of denials of coverage for specifictreatment.