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HR 3621 101th Congress House Health Business losses Congressional reporting requirements Corporation taxes Corporations Employee benefit plans Geriatrics Health insurance Income tax Individual retirement accounts Insurance companies Insurance premiums Life insurance Long-term care insurance Medical economics Reinsurance Social Welfare Tax administration Tax exclusion

Older Americans Long-Term Care Insurance Act of 1989

Introduced: November 8, 1989 See on congress.gov
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 20, 1989
Referred to the Subcommittee on Commerce, Consumer Protection and Competitiveness.
Nov 8, 1989
Referred to the House Committee on Energy and Commerce.
Nov 8, 1989
Referred to the House Committee on Ways and Means.
Nov 8, 1989
Introduced in House
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 Plain-English summary Congressional Research Service

Older Americans Long-Term Care Insurance Act of 1989 - Title I: Tax Provisions Related to Long-Term Care Insurance - Amends the Internal Revenue Code to require that, for the purpose of determining the income tax liability of issuers of qualified long-term insurance, the contracts be treated as accident or health insurance. Applies this provision to policies covering at least 12 consecutive months of necessary diagnostic, preventive, therapeutic, rehabilitative, or personal care services that are provided in a setting other than an acute care unit of a hospital. Requires policies issued after 1989 to be reinsured by the Federal National Long-Term Care Reinsurance Corporation, if the Corporation is incorporated when the policy is issued.

Directs the Secretary of Health and Human Services to: (1) submit to the Congress before 1991 a study on long-term insurance policies; and (2) report annually to the Congress regarding the certification of qualified long-term care insurance.

Treats qualified long-term care insurance as accident or health insurance and its benefits as benefits for personal injuries or sickness for purposes of determining appropriate tax exclusions for employer contributions or employee benefits.

Excludes from gross income: (1) distributions or payments from individual retirement plans that are used during the year to pay the premiums for qualified long-term care coverage of individuals aged 59 1/2 or older; and (2) amounts received upon surrender, cancellation, or exchange of a life insurance contract and used during the year to pay the premiums for qualified long-term care insurance.

Title II: Federal National Long-Term Care Reinsurance Corporation - Federal National Long-Term Care Reinsurance Corporation Act - Authorizes the Secretary to provide for the incorporation of the Federal National Long-Term Care Reinsurance Corporation (not an agency or establishment of the U.S. Government). Requires the Corporation to confine its activities to reinsuring insurance companies for extraordinary loss in the issuance or payment of qualified long-term care insurance benefits.

Directs the Corporation to report annually to the President and to the Congress regarding its activities.

What's happening now November 20, 1989

Referred to the Subcommittee on Commerce, Consumer Protection and Competitiveness.

 Related & companion bills 1
  • HR 688 Identical bill Older Americans Long-Term Care Insurance Act of 1989
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Smith, Christopher H.
New Jersey · May 23, 1990
 D
Pelosi, Nancy
California · Jan 24, 1990
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3621: Older Americans Long-Term Care Insurance Act of 1989. 101st Congress. Open America. https://openamerica.io/bill/101-HR-3621/
MLA
"H.R. 3621: Older Americans Long-Term Care Insurance Act of 1989." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-HR-3621/.
Bluebook (legal)
H.R. 3621, 101st Cong. (2026), https://openamerica.io/bill/101-HR-3621/.
Markdown link
[H.R. 3621: Older Americans Long-Term Care Insurance Act of 1989](https://openamerica.io/bill/101-HR-3621/)
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