A bill to require the Secretary of Health and Human Services to submit to the Congress a proposal for the regulation of long-term care insurance policies, including an analysis and evaluation of such policies as are available to individuals, and to amend the Internal Revenue Code of 1954 to allow tax-free distributions from individual retirement accounts for the purchase of long-term care insurance coverage by individuals who have attained age 59 1/2.
Long-Term Care Insurance for the Elderly Act of 1986 - Amends the Internal Revenue Code to allow tax-free distributions from an individual retirement account or an individual retirement annuity for the purchase of long-term care insurance coverage for the individual within 90 days after the individual receives the payment or distribution and the individual has attained the age of 59 and one-half.
Requires the Secretary of Health and Human Services to submit to the Congress a report which contains a proposal for the regulation of long-term care insurance policies, including an analysis and evaluation of such policies available to individuals.
Introduced in House
Introduced in House
Referred to House Committee on Energy and Commerce.
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Health and the Environment.
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