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Jul
21
Senator Kennedy has receive approval from President Obama for his long term care proposal that may be included in the health care reform bill that is being debated on Capitol Hill.
As part of the plan taxpayers would pay into the newly created program that would be set up as a mechanism to pay for some long term care expenses. The premium for the program, according to Kennedy, would be approximately $55 per month. Some estimates say the premium may be more in the neighborhood fo $110 per month. Once a taxpayer pays into the system for 5 years they would be eligible for a modest benefit of up to $50.00 per day to cover some eligible long term care expenses.
This innovative idea would be a great step forward in accomplishing the overriding goal of keeping people in their homes longer. In addition the new program would save Medicaid dollars by delaying access to benefits that normally would be used sooner without this type of program.
You can read more about the program at ElderLawAnswers.
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