Bill > HR2082

This bill, known as the "Well-Being Insurance for Seniors to be at Home Act" or "WISH Act", establishes a federal long-term care insurance program to help seniors manage the substantial costs of long-term services and supports (LTSS). The bill recognizes that most Americans will need LTSS as they age, with average costs around $298,000 per person, and that current options often lead to financial hardship. Under the proposed program, individuals who are retirement age, have filed an application, meet insurance criteria, and have a continual serious functional disability would be eligible for monthly benefits. The benefit amount would be calculated based on the median cost of daily personal assistance, adjusted by the individual's quarters of coverage. The program creates a new Federal Long-Term Care Insurance Trust Fund, initially funded with $12 million annually for three years, and requires public education efforts to inform Americans about long-term care planning. The bill also mandates periodic reports to Congress evaluating the program's performance, potential financial exploitation risks, and strategies to address unmet long-term care needs for populations not covered by the insurance. Importantly, the long-term care insurance benefits would not be counted as income or resources for determining eligibility for other federal or state assistance programs.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/2082/all-info