Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House committee hears bill to raise long-term care insurance tax credit
Summary
The House Taxes Committee heard author testimony and public comment on House File 355, which would raise Minnesota's long-term care insurance tax credit for individuals and married couples and was laid over for possible inclusion in the omnibus tax bill.
Representative Matt O'Driscoll told the House Taxes Committee that House File 355 would raise the state income tax credit for purchasing qualified long-term care coverage, increasing the credit for individuals and married couples and encouraging middle-income Minnesotans to keep private coverage.
The bill matters because proponents say more private coverage could reduce future pressure on Medicaid long-term care spending. O'Driscoll said the change would move the individual credit from $100 to $250 and the married-couple credit from $200 to $500 to better reflect rising premiums.
Bob Stein, co-chair of the legislative committee for the National Association of Benefit and Insurance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
