Federal Interagency Task Force on Long Term Care Insurance
The Department of the Treasury (Treasury) convened the Federal Interagency Task Force on Long-Term Care Insurance (Task Force) in response to recommendations in Treasury’s October 2017 Report on Asset Management and Insurance (the Report). The Report is linked here (see pp. 143-144). The Report identified the challenges of financing long-term care as a matter of national interest requiring a coordinated response from the federal government, and directed the Task Force to develop policies at the federal level to complement reforms at the state level relating to the regulation of long-term care insurance (LTCI). The Report further directed the Task Force to coordinate with state insurance regulators and the National Association of Insurance Commissioners (NAIC). The Task Force is chaired by Treasury’s Assistant Secretary for Economic Policy Michael Faulkender, and its members include representatives from the Department of Health and Human Services, the Centers for Medicare & Medicaid Services, the Internal Revenue Service, the Office of Management and Budget, the Department of Labor, and the Office of Tax Policy and the Federal Insurance Office within Treasury.