July 27, 2000
SENATE APPROVES BILL TO ASSIST FEDERAL EMPLOYEES IN
ADDRESSING LONG-TERM CARE NEEDS
Washington - Senate Governmental Affairs Committee Chairman Fred Thompson
(R-TN) today announced Senate passage of S. 2420, the Long-Term Care Security
Act, legislation to assist federal employees plan to meet potential long-term
care needs.
The legislation, similar to H.R. 4040 which was passed in the House of
Representatives, directs the Office of Personnel Management to establish a
long-term care program whereby enrollees will be required to pay 100 percent of
the premiums. The Congressional Budget Office estimates that net federal
outlays over the long run will be zero. Long-term care insurance can help
federal workers plan for the future and protect themselves from the financial
risks associated with the challenges of caring for oneself and family in the
latter years of life.
"By establishing a program that offers affordable, quality long-term
care insurance, the federal government can serve as a model to other employers
across the country whose employees face similar long-term care needs,"
Thompson said.
According to Thompson, S. 2420 also includes the provisions of S.1232, the
Federal Erroneous Retirement Coverage Corrections Act. This bill provides
long-awaited relief for those federal employees who, through no fault of their
own, find themselves enrolled in the wrong federal retirement system. This bill
provides a comprehensive solution to the problems faced by federal employees
who are confronted with retirement coverage errors and it does so at a
reasonable cost.
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