Senate Amendment 5083


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 on or after July 1, 2004,
     1 13 provides benefits in an amount equal to at least one
     1 14 hundred thousand dollars as computed on July 1, 2004,
     1 15 compounded annually by at least five percent.
     1 16    (2)  Includes a provision under which the total
     1 17 amount of the benefit increases by at least five
     1 18 percent annually for individuals up to seventy=two
     1 19 years of age.>
     1 20 #2.  By striking page 3, line 30, through page 4,
     1 21 line 1, and inserting the following:
     1 22    <(1)  Is the beneficiary of a qualified long=term
     1 23 care insurance policy purchased on or after July 1,
     1 24 2004, that provides benefits, in an amount equal to at
     1 25 least one hundred eighty=eight thousand dollars as
     1 26 computed on July 1, 2004, compounded annually by at
     1 27 least five percent.
     1 28    (2)  Is the beneficiary of a qualified long=term
     1 29 care insurance policy purchased on or after July 1,
     1 30 2004, that includes a provision under which the total
     1 31 amount of the benefit increases by at least five
     1 32 percent annually for individuals up to seventy=two
     1 33 years of age.>
     1 34 #3.  Page 4, line 2, by striking the figure <(2)>
     1 35 and inserting the following:  <(3)>.
     1 36 #4.  Page 4, line 3, by striking the figure <(3)>
     1 37 and inserting the following:  <(4)>.
     1 38 #5.  Page 4, by striking lines 32 through 35.
     1 39 #6.  Page 5, by striking lines 1 through 8.
     1 40 #7.  By renumbering as necessary.
     1 41
     1 42
     1 43                               
     1 44 HERMAN C. QUIRMBACH
     1 45 SF 2183.302 80
     1 46 pf/cf
   1 47
   1 48
   1 49
   1 50

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