NAIFA One America Summit

NAIFA's Boyle Discusses LTC Policy Matters at OneAmerica Summit

NAIFA Senior Vice President for Government Relations Diane Boyle participated in a legislative panel at OneAmerica's Long-Term Care Summit. The summit featured discussions by industry thought leaders focused on the future of long-term care, covering everything from industry trends and government and regulation considerations to consumer perspectives.

The inaugural forum presented by OneAmerica Financial was a robust discussion on the longterm care industry, bringing a range of viewpoints and perspectives. Boyle provided insight on the recent election's impact on LTC and updates on the Washington Cares program and other state ballot initiatives.

On the federal side, Boyle provided background on the Well-Being Insurance for Seniors to be at Home Act (WISH) Act of 2021, which could make a return in the next Congress. The legislation would create a catastrophic long-term care benefit paid for by a 0.6% payroll tax. The bill author, Rep. Tom Suozzi (D-NY), is currently looking for a Republican cosponsor. Boyle also discussed the potential for a federal caregiver tax credit, which President-Elect Trump touted during his campaign.

Boyle concluded by urging financial professionals to be politically engaged. It is vital, she said, for the industry to humanize tax issues to show that financial products, services, and professionals provide crucial and valuable benefits to consumers who are the lawmakers' constituents.

Long-term care is one area of focus of NAIFA's revitalized Lifetime Healthcare Center. The Center will host a November 19 Impact Day program of virtual presentations exploring the trends and challenges of lifetime healthcare.