[Congressional Record Volume 153, Number 173 (Thursday, November 8, 2007)]
[Extensions of Remarks]
[Page E2372]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                     LONG-TERM CARE AWARENESS WEEK

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                             HON. LEE TERRY

                              of nebraska

                    in the house of representatives

                       Thursday, November 8, 2007

  Mr. TERRY. Madam Speaker, I rise to recognize November 4-10 as 
``Long-Term Care Awareness Week.'' As the baby boomer generation begins 
to reach retirement age, understanding the realities and benefits of 
long-term care has never been more important.
  Preparing for future costs of health care is something that every 
American should be doing. Long-term care insurance is one way for 
Americans to plan for periods of extended disability without burdening 
their families, going bankrupt, or relying on government assistance.
  At least 60 percent of people over age 65 will require some long-term 
care services at some point in their lives--the personal assistance 
that enables impaired people to perform daily routines such as eating, 
bathing, and dressing. This care is expensive, averaging almost $200 
per day for nursing home care, nearly $80 per day for assisted living 
and about $20 per day for home care.
  While these costs are astronomical, it is even more stunning how few 
people realize the true financial impact of requiring long-term care. A 
2006 AARP study found that 59 percent of adults who are over 45 
overestimate Medicare coverage for long-term care. It is important for 
people to understand that Medicare does not generally pay for most 
long-term care services. Therefore, it is important for individuals to 
start early and plan ahead for long-term care costs as a critical 
component of their retirement plans.
  Various pieces of legislation have been introduced in Congress to 
encourage the purchase of long-term care insurance, including my own 
legislation, The Long-Term Care Act (H.R. 3088), which allows 
individuals to use funds from their IRAs or 401(k) plans tax-free and 
without penalty to purchase long-term care insurance. The government 
does have an important role to play in encouraging higher utilization 
of long-term care insurance.
  During Long-Term Care Awareness Week, I would encourage all citizens 
interested in retirement planning to visit www.longtermcare.gov, where 
the government hosts a national clearinghouse for long-term care 
information.

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