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Senator Edward Kennedy’s new long-term care insurance program proposal will help healthy young adults and disabled senior citizens. The bill will provide assistance to disabled people so they can continue to live in their homes, all at an affordable monthly premium. The bill would also extend children’s coverage under their parents’ health insurance until age 26.

The bill would also allow U.S. citizens to buy long term care health insurance for as low as $65 a month from the government. The legislation would also revamp our current health care system with new government rules for insurance companies including guaranteed coverage for people with preexisting conditions to other rules that could limit profits.

The plan is designed to help disabled persons pay for services that would allow them to stay in their homes and not have to move into a nursing home. The disabled people begin paying premiums while they are still working in order to use the services when they are retired. For students and young workers, premiums could be as low as $5 a month.

Unfortunately the costs for the long term care plan would exceed $1 trillion over the next 10 years it is enacted. Though they do not yet know how to cover the costs, one way includes a tax on employer-sponsored health benefits.

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