A RESOLUTION regarding the current and future cost of
long term care insurance and the incentives that will increase
the number of people who buy private long term care insurance.
Whereas, The state of Indiana is concerned about the ability to pay for long term care for a growing population;
Whereas, Thirty-Five percent of Medicaid expenditures go
toward long term care, and this percentage will increase as the
baby boomer population ages;
Whereas, Indiana has recognized that individuals may
deduct the full premium cost on Partnership Policies as an
incentive to buy long term care insurance;
Whereas, Indiana needs to increase the number of citizens
buying long term care insurance by opening the deduction to
all policies and not just Partnership Policies;
Whereas, Long term care insurance covers home health
care as well as care in a facility which is in keeping with the
state's Options Plan;
Whereas, Medicaid dollars are becoming scarce, it is in the
best interest of the state to look for alternative plans of action;
Whereas, the state has not taken a serious look at long term
care insurance since 1998 when it created the Partnership
SECTION 1. That the Indiana House of Representatives directs the
Legislative Council to study long term care insurance issues in Indiana.
SECTION 2. That the Indiana Health Finance Commission or another insurance study committee should review present policies, costs, trends and incentives to encourage more people to enroll in long term care insurance.
DR 4824/DI me