Tuesday the Senate Appropriations Committee passed a bill making long term health care needs more affordable for the middle class family. Rep. Steve Farley, D-Tucson, sponsored House Bill 2713, that will residents of Arizona to invest or put aside funds into a tax free health savings account allowing them to pay for their future long term care needs. This bill also will allow a tax deduction for premiums of long term care insurance. The next step in the legislation process if to pass it in the Senate then for final approval by Gov. Jan Brewer.
This bill will provide relief for middle class families that don’t qualify for Medicare because they have assets, yet don’t have enough funds to pay for long term care services which can cost $80,000 a year on the average in Arizona. As with all taxes the middle class get hurt the most with high taxes and receive less of the benefits from the government.
Many people don’t find out till its too late that Medicare does not pay for any long term care services, and for the middle class this is not even an option. Unfortunately some politicians on the left think government funds come out of thin air and don’t realize that the taxes middle class pay could instead remain with the middle class to help pay for their health and long term care needs. But that will not increase the size of government and control of a national health care. Fortunately Arizona is a majority of right thinking politicians who realize that government controlled health care will cost tax payers more money and give worse results then allowing the middle class to save and choose their own care.
This will bring relief to the middle class who will have to go through some experience of long term care either for themselves or loved ones. It’s not a matter of “IF” but a matter of “WHEN”. The middle class should also look at other options such as long term care insurance and compare the difference of savings vs. investing in a long term care insurance policy. A long term care insurance quote comparison can be provided on our website.