STUDY OF TAX INCENTIVES FOR PURCHASE OF COVERAGE FOR LONG-TERM CARE.

SEC 113. STUDY OF TAX INCENTIVES FOR PURCHASE OF COVERAGE FOR LONG-TERM CARE. (a) In General.—The Secretary of the Treasury (in this section referred to as the “Secretary”) shall conduct a study of Federal tax policies to promote the private financing of long-term care (as defined in subsection (d)). The study shall identify alternative methods of creating incentives, through the tax system, to encourage individuals to purchase insurance coverage for long-term care. The study shall also consider the cost to the United States Treasury and the potential benefits to consumers, including whether the incentives would benefit all or most of the population requiring protection. (b) Consultation.—The Secretary shall conduct the study required by subsection (a) in consultation with representatives of the insurance industry, providers of long-term care, and consumers. (c) Report.—The Secretary shall report the results of the study required by subsection (a) to the Congress not later than November 30, 1988, together with the Secretary’s recommendations for any changes in Federal law that the Secretary determines to be appropriate to promote the private financing of long-term care. (d) Long-Term Care Defined.—For purposes of this section, the term “long-term care” includes care and services provided by nursing homes, home health agencies, and other mechanisms for the delivery of long-term care services.