David Weldon: “as a cosponsor of H.R. 4040, I rise in strong support of The Long-Term Care Security Act. This bill directs the Office…”

“as a cosponsor of H.R. 4040, I rise in strong support of The Long-Term Care Security Act. This bill directs the Office of Personnel Management (OPM) to solicit competitive bids from private insurers to provide long-term health care plans for federal workers, including military and civilian employees and retirees. This insurance may also be extended to include eligible spouses, children, adopted children, stepchildren, and stepparents. Employees who enroll in the group coverage must pay 100 percent of the premium and may choose to have the premium deducted from their pay, which is paid directly to the insurance carrier. It is estimated, however, that these employees, by getting a group rate, may realize a savings of between 15 and 20 percent on insurance premiums. It is important that we encourage Americans to prepare for their long-term health care needs. Too often Americans are unprepared for this need and the failure to have such coverage often forces families to deplete their resources. It is important that we pass this bill for the benefit of our federal employees and members of our armed services and retirees. This will help them in their efforts to provide for their families and their retirement security. In addition to the passage of this bill, I will continue to work to ensure that the costs of long-term care insurance are deductible from taxes.”