The following statement was released today by Donald Young, M.D., Interim President of the Health Insurance Association of America (HIAA): For America’s 77 million baby boomers, paying future long-term care costs remains as their largest looming expense. According to the Bureau of the Census, in 2020, one out of every six Americans will be age 65 or older – roughly 20 million more seniors than today. Furthermore, by 2020, the number of Americans 85 and older – the people most likely …showed first 75 words of 308 total…

…showed last 75 words of 308 total…a $3,000 annual tax credit for long-term caregivers. Furthermore, federal tax relief for long-term care insurance premiums would pay for itself by generating future savings in Medicaid spending. We commend Senator Breaux for addressing these important issues, and for focusing public attention on this pressing need. We look forward to working with him, with other Members of Congress, and with the Bush Administration to help Americans plan for and protect themselves against future long-term care costs