New Fiscal Cliff Deal Creates Long Term Care Panel
Last updated: February 2, 2017 at 22:58 pm
The American Taxpayer Relief Act of 2012 (H.R. 8) bill is currently in front of President Obama and his signature is expected. Although long term care insurance is not the primary focus of the bill, Section 643 of the bill would create a Commission on Long-Term Care.
Other provisions of the bill would increase tax rates for those earning more than $400,000, increase the payroll tax rate to 6.2 percent and make the estate tax 40 percent for estates worth more than $5 million. Another part of the bill could significantly cut the Medicare reimbursement rate to doctors.
The new Long Term Care Panel would include representatives from the following groups; Long term care insurance companies, family caregiver groups, health care workers, users of long term care services and users of LTC insurance.