Senate Amendment 5081


PAG LIN




     1  1    Amend Senate File 2183 as follows:
     1  2 #1.  Page 3, by striking lines 14 through 25, and
     1  3 inserting the following:
     1  4    <a.  A one dollar increase in the amount of assets
     1  5 an individual who purchases a qualified long=term care
     1  6 insurance policy and meets the requirements of section
     1  7 249J.4 may retain under section 249A.34 for each one
     1  8 dollar of benefit paid out under the individual's
     1  9 qualified long=term care insurance policy for
     1 10 qualified long=term care services if the policy meets
     1 11 all of the following criteria:
     1 12    (1)  If purchased prior to January 1, 2004,
     1 13 provides benefits in an amount equal to at least one
     1 14 hundred thousand dollars as computed on January 1,
     1 15 2004.
     1 16    (2)  If purchased on or after January 1, 2004,
     1 17 provides benefits in an amount equal to at least one
     1 18 hundred thousand dollars as computed on January 1,
     1 19 2004, compounded annually by at least five percent.
     1 20    (3)  Includes a provision under which the total
     1 21 amount of the benefit increases by at least five
     1 22 percent annually for individuals up to seventy=two
     1 23 years of age.>
     1 24 #2.  By striking page 3, line 30, through page 4,
     1 25 line 1, and inserting the following:
     1 26    <(1)  Is the beneficiary of a qualified long=term
     1 27 care insurance policy that provides benefits, if
     1 28 purchased prior to January 1, 1998, in an amount equal
     1 29 to at least one hundred forty thousand dollars as
     1 30 computed on January 1, 1998.
     1 31    (2)  Is the beneficiary of a qualified long=term
     1 32 care insurance policy that provides benefits, if
     1 33 purchased on or after January 1, 1998, in an amount
     1 34 equal to at least one hundred forty thousand dollars
     1 35 as computed on January 1, 1998, compounded annually by
     1 36 at least five percent.
     1 37    (3)  Is the beneficiary of a qualified long=term
     1 38 care insurance policy that includes a provision under
     1 39 which the total amount of the benefit increases by at
     1 40 least five percent annually for individuals up to
     1 41 seventy=two years of age.>
     1 42 #3.  Page 4, line 2, by striking the figure <(2)>
     1 43 and inserting the following:  <(4)>.
     1 44 #4.  Page 4, line 3, by striking the figure <(3)>
     1 45 and inserting the following:  <(5)>.
     1 46 #5.  By renumbering as necessary.
     1 47
     1 48
     1 49                               
     1 50 NEAL SCHUERER
     2  1 SF 2183.201 80
     2  2 pf/sh

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