United States · Bill · S
S. 1021 (102nd)
Private Long-Term Care Insurance and Accelerated Death Benefit Incentive Act of 1991
Introduced
9 May 1991
Last action
—
Status
Read twice and referred to the Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
26 August 2025
Summary
Private Long-Term Care Insurance and Accelerated Death Benefit Incentive Act of 1991 - Amends the Internal Revenue Code to provide for treatment of: (1) long-term care insurance contracts as accident or health insurance contracts; (2) amounts received under such contracts with respect to qualified long-term care services as amounts received for personal injuries or sickness; and (3) employer plans providing such services as an accident or health plan. Includes amounts paid for qualified long-term care services as medical expenses for individual itemized deductions. Excludes benefits received under such contracts from gross income. Provides for the treatment of prefunded post-retirement long-term care benefits plans in the same manner as prefunded post-retirement medical and life insurance benefit plans. Permits qualified long-term care insurance contracts to be offered in cafeteria plans (plans which offer two or more benefits). Allows the tax-free exchange of life insurance contracts for long-term care insurance contracts. Provides for the treatment of amounts paid to a terminally ill individual or one who is chronically ill and confined to a qualified facility as death benefits. Allows insurance companies to issue such accelerated death benefit riders on life insurance contracts. Declares that gross income does include excessive long-term care benefits.
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Documents
2 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN
Introduced in Senate
summary · EN · 9 May 1991
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/102nd-congress/senate-bill/1021
- Open data entity: https://api.congress.gov/v3/bill/102/s/1021