On the recordSeptember 21, 2012
Mr. President, 10 years have passed since the first consumer enrolled in the Federal Long Term Care Insurance Program, an insurance option for Federal employees, retirees and their loved ones created by the Long-Term Care Security Act. This law set a new standard regarding providing for the unique and important medical needs of seniors and individuals with disabilities. Participants in the program are now confident that they will receive help financing the care that they may require. I am pleased to recognize the 10th anniversary of the first enrollment in this important program, and I am proud that its administration is handled by Long Term Care Partners, LLC, which is located in my home State of New Hampshire. Today, 1 in 10 Americans aged 55 and older carries a long-term care insurance policy; however, it is estimated that 70 percent of people over age 65 will eventually require long-term care. Our Nation's changing demographics and significant medical advances have contributed to an aging population, and addressing the issue of how best to care for seniors and individuals with disabilities should be part of our national discourse on how we support ourselves and our families. These services are critical for so many Americans who need assistance to continue living independently and actively in their communities.…
Source
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