AZ Health Care Costs Addressed

(State Capitol, Phoenix) In the Legislature's continuing effort to lower the cost of health care, Health Committee Chairman Bob Stump is seeking a tax credit for people who buy long-term care insurance. Stump, R-Peoria, is offering HB2319 in hopes of making long-term care insurance more accessible to Arizonans. The tax credit is capped at 10 percent of the premium or $500, whichever is lesser. A tax credit reduces dollar-for-dollar the amount a taxpayer owes to the state. "Encouraging people to obtain long-term care insurance by providing a tax credit decreases the burden on Arizona for these services and guarantees a higher quality of life for those who face prolonged illnesses," Stump said. "Even in tough economic times, we should work to make it easier for our state's residents to obtain this insurance." If purchased, long-term care insurance kicks in when a person is away from their job for an extended period of time due to illness or injury. The insured receives a pre-set portion of their wages during the time away from work. Stump said the bill will be heard in his committee and in the House Ways and Means Committee.