\-\-\-\--Original Message\-\-\-\--

From: pbruckmann@comcast.net
\[[[mailto:pbruckmann@comcast.net]{.underline}](mailto:pbruckmann@comcast.net)\]

Sent: Saturday, March 12, 2005 11:19 AM

To: comments

Subject: Long-Term Care Insurance Tax Reform

Dear Distinguished Members of the Panel:

Please see attachement.

Thank you.

122 Hudson Avenue

Red Bank, NJ 07701-2140

March 12, 2005

The President's Advisory Panel on Federal Tax Reform

1440 New York Avenue NW

Suite 1200

Washington, DC 20220

Re: Qualified Long-Term Care Insurance Tax Incentives

Dear Distinguished Members of the Panel:

I would like to take this opportunity to express my thoughts on the
issue of

an "above-the-line" deduction for Long-Term Care Insurance (LTCI).

Given the current condition of federal and state budget concerns
regarding

the rising costs attributed to Medicaid and long-term care for an ever

increasing segment of our population, it seems to me of utmost
importance

to encourage our aging citizens, in particular those between the ages of
50

to 75, to obtain LTCI.

In addition to providing daily benefits for Home & Community Based Care

and Nursing Home Care, more importantly LTCI does the following:

maintains a sense of dignity for the insured; allows a choice of
facility and

services; allows one to stay at home (Medicaid does not cover home care
or

community based activities) in familiar surroundings; provides
professional

caregivers; and gives one peace of mind that they are not a burden to
their

loved ones.

For the family, LTCI provides peace of mind knowing that their loved
one(s)

is receiving professional care. The family is also relieved of possible

financial and emotional burdens. In today's society many families have
two

income earners and without LTCI one of those family members may have to

reduce their hours or stop working all-together, which creates a
financial

burden on that family, not to mention the emotional strain and stress it

causes. This situation carries over to the workplace creating additional

costs to an employer in missed days and reduced productivity or possibly
the

loss of a valued employee.

Ultimately, the taxpayers end up paying for much of these costs. People
are

forced to spend down their assets to qualify for Medicaid, and who funds

Medicaid, the taxpayers. The families that care for their parents and
loved

ones may be forced to alter their incomes and life styles which may
impact

the amount of taxes they pay, therefore the federal and state
governments

lose revenues and put the burden back on the other taxpayers.

It is my opinion and I have read several studies which have shown that
the

savings in Medicaid benefits would far outweigh the loss of tax revenue
from

an "above-the line" deduction for Qualified LTCI.

As I stated in the beginning of my letter, I believe it in the best
interest of our

aging population, their families and loved ones, Medicaid, state and
federal

government and the taxpayers that people be encouraged to obtain the

valuable benefits provided by Qualified Long-Term Care Insurance (LTCI).

As a side note, my wife and I purchased a Qualified LTCI policy several

years ago, and we are in our 50's.

I would like to thank the Panel for allowing me to air my opinion in
what I

perceive as a very important matter.

Sincerely,

# Peter R. Bruckmann

Peter R. Bruckmann