LTC Affordability Act (S. 2415)

Key Components:

• Ability to use Retirement Account Funds to Pay for LTC insurance premiums without added 10% tax on early distributions.
• Permits consumers to use funds from a retirement plan (up to $2,500 per year) to make premium payments for “certain specified” LTC insurance contracts.
• The Treasury would maintain a website providing consumer education regarding LTC insurance contracts.