Rep. Tom Suozzi (D-NY) has filed H.R. 4289, the "Well-Being Insurance for Seniors to be at Home (WISH) Act." The WISH Act would impose a 0.3% payroll tax on workers and 0.3% payroll tax on employers. The monthly benefit would start at $3,6000 and rise with inflation.
In lieu, workers would be protected against catastrophic long-term care costs. Suozzi explained that H.R. 4289 is designed to make the LTCI market more attractive to private insurers and to address the challenge of the lowering number of caregivers available.
NAIFA opposes this legislation and will be monitoring its movement. To reach more about the WISH Act, please click here.