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05/17/2022 04:05 AM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=33573
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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: December 16, 2020 09:38 AM
From: Representative Ed Neilson
To: All House members
Subject: Long Term Care Trust Act (Formerly HB 2767)
 
Most adults know someone who has needed long-term care services. Many families are unable to afford the cost of care without severe sacrifices, like “spending down” to become eligible for Medicaid or providing the needed services as family members, often at great financial and physical sacrifice. Nationally, relatives spend an average of 20 percent of their own money on caregiving costs and often must leave their jobs, sacrificing hundreds of thousands of dollars in income and benefits. With more people living longer, the cost of long-term care must be addressed.

My proposal, Long Term Care Trust Act, will establish a fund to provide up to $36,500 in lifetime benefits (indexed to inflation) to eligible beneficiaries for long-term care services. That may include respite care, in-home caregiving, time in a nursing home or assisted living facility, home modifications like constructing a wheelchair ramp, and other elderly care expenses. Funded by a modest monthly payroll premium, $0.58 for every $100.00 earned, those who pay into the program for ten years—three if they experience a catastrophic disabling event—will be able to access $100 per day up to the $36,500 lifetime limit.

Seventy percent of Americans end up needing long-term care after turning 65, and more than 90 percent of people do not have private long-term care insurance. This legislation will give families the security of knowing that they or their loved ones will be able to access financial help for the care they need when they need it.