Proposed Bill To Give Tax Deduction To Self-Employed

Jun 28, 1999

FOR IMMEDIATE RELEASE

June 28, 1999

CONTACT: Carrie Tydings

(202) 824-1786

ctydings@hiaa.org

The following statement was released today by Chip Kahn, president of the Health Insurance Association of America (HIAA):

HIAA applauds a bill introduced by Sens. William Roth (R-DE), Rod Grams (R-MN), and Spence Abraham (R-MI) that would make health and long-term care more affordable for millions of people who do not have employer provided coverage.

Under their proposed Health Care Accessibility and Equity Act, self-employed individuals could deduct 100 percent of their health and long-term care insurance costs. This legislation levels the playing field and makes coverage more affordable for about 12 million people, for whom the cost of health insurance is not completely tax deductible. In addition, Americans will be able to plan for the often-catastrophic costs of long-term care through the purchase of long-term care insurance. We commend Sens. Roth, Grams and Abraham for promoting tax equity in health care expenditures among consumers.