National Association of Insurance and Financial Advisors

NAIFA Supports Maryland LTC Task Force Policy Recommendations

In the Spring of 2017, Maryland Governor Larry Hogan signed into law an Act that established the Maryland Task Force on Long Term Care (LTC) Education and Planning. The Task Force developed for the Governor a list of policy recommendations intended to increase the public’s knowledge of LTC, promote the need for LTC planning, and educate consumers on the options for LTC coverage – both private and public plans - and the benefits and limitations of those options. 

The Task Force delivered its recommendations to the Governor in December 2017. The Task Force consisted of representatives from state agencies, consumer organizations, and industry trade associations.  A representative from NAIFA-Maryland was among the Task Force members and had a significant influence in producing the Task Force recommendations. 
The NAIFA-National Government Relations Committee strongly supports the MD LTC Task Force Policy recommendations and urges the NAIFA state chapters to consider asking their respective state regulators and legislators to adopt the Task Force’s LTC proposals. 
Among the recommendations to state regulators, the Task Force suggests that states produce and execute a survey to measure the level of knowledge state residents have on LTC, target specific groups to receive financial planning education, ensure that Maryland businesses receive the Task Force’s “Plan NOW Starter Kit” (which includes information on how to successfully plan for LTC with contact information for private and public options), revamp and streamline LTC information on state agency websites, and include various organizations to assist in the outreach effort such as senior and consumer associations and industry trade groups. 

  • Posted March 22, 2019 IN

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