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Committee debates expanding long‑term‑care tax credit; preliminary motion fails and bill later postponed
Summary
The committee debated but did not advance HB 1045, which would raise eligibility and the dollar amount for a long‑term care insurance tax credit intended to encourage private coverage and reduce future Medicaid pressure.
House Bill 1045, a proposal to increase the income thresholds and raise the dollar cap for the state long‑term care insurance tax credit, drew discussion about program structure, consumer behavior and state Medicaid costs before the committee declined to advance the bill and then postponed it.
Sponsors said the bill expands eligibility (raising the federal taxable income thresholds for the credit) and increases the per‑policy credit (the bill sets the credit up to $300 per policy and includes an inflation adjustment). Representative Joseph, sponsor, told members the policy aims to encourage Coloradans to buy long‑term care insurance so fewer people…
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