FOR IMMEDIATE RELEASE September 19, 2000		CONTACT: Kenyattah Robinson (202) 224-9752
BREAUX HAILS HISTORIC LONG-TERM CARE LEGISLATION U.S. Sen. John Breaux (D-La.) today called President Clinton's signature of landmark legislation that makes long-term care insurance available to federal employees, retirees and their families a positive, first step toward ensuring all Americans can adequately plan for their retirement. "With long-term care getting more expensive, this insurance will be a necessity for baby boomers who are about to retire," said Sen. Breaux, who serves as ranking Democrat on the Special Committee on Aging. "Now that we have taken this first step to allow federal employees and their families plan for their futures with confidence, we must move the ball across the goal-line to make safe, affordable long-term care insurance available to all Americans." The Long Term Care Security Act authorizes the federal Office of Personnel Management (OPM) to negotiate with private insurers to offer affordable, high-quality long-term care insurance policies to federal employees through the workers' Federal Employees Health Benefits Plan (FEHBP). Because the insurance is purchased at group rates, the cost to employees is less expensive than the insurance would cost if purchased on an individual basis. Sen. Breaux emphasized we must now focus our attention on ensuring that affordable, long-term care insurance with consumer protections is accessible to all Americans who want to purchase it. Sen. Breaux pointed to The Omnibus Long-Term Care Act of 2000 (S. 2935), which he sponsored with a bipartisan group of senators, as legislation that addresses a wide range of needs important to seniors, caregivers and baby boomers. That bill provides a tax deduction for the premiums of qualified long-term care insurance policies, and a $3,000 tax credit to caregivers who provide daily assistance to a family member. Long-term care insurance helps Americans pay the escalating costs of nursing home or around-the-clock home care for themselves or someone in their family who needs help with activities of daily living, such as eating, dressing or bathing. President Clinton's announcement comes on the heels of a Special Committee on Aging hearing last week which examined the growing need for long-term care insurance and questioned how consumers who purchase this product can be adequately protected from unexpected premium increases.