Private Long-term Care Insurance Promotion Act

Summary

Private Long-Term Care Insurance Promotion Act - Amends the Internal Revenue Code to require that, for the purpose of determining the income tax liability of insurance companies, guaranteed renewable insurance contracts providing for qualified long-term health care be treated in the same way as noncancellable accident or health insurance contracts. Applies this requirement to contracts covering diagnostic, preventive, therapeutic, rehabilitative, and personal care services that are: (1) required by a chronically ill or disabled individual; and (2) provided by a qualified licensed provider (other than a family member) in a nursing facility, including hospitals and nursing homes, or in a home (if home care is a substitute for care in a nursing facility).

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1 official file

• Introduced in House

  summary · EN · 6 October 1987

  Open at official source

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