DeStefano Visits Meriden Senior Center & Offers Seniors Plan

May 30, 2006

New Haven: John DeStefano, Democratic candidate for governor, visited with seniors at the Meriden Senior Citizens' Center during lunchtime on Tuesday, May 30th and told them about his compassionate and cost effective plan to help seniors receive better health care, and save taxpayers millions of dollars. House Majority Leader Chris Donovan attended the event, along with dozens of seniors from across Meriden.

"Seniors in Meriden, just like seniors across Connecticut, should not live in fear of being unable to afford long-term care," said DeStefano. "My plan would help them afford health care and over the long term save the state tens of millions of dollars."

DeStefano is proposing offering a state income-tax break to Connecticut residents who buy long-term care insurance, thus making it more affordable for families and lessening the enormous cost to the state. Connecticut is one of the most expensive states for long-term care - hurting seniors and taxpayers - but incredibly Connecticut is one of only a handful of states that does not encourage people to buy long-term care insurance by offering them a tax credit.

According to estimates from the U.S. Census Bureau's most recent report, Meriden's population is comprised of more than 8,000 people who are age 65 or over. This represents more than 14% of Meriden's population and is just above the state average. Connecticut has a higher concentration of persons age 65 and over than New England and the nation as a whole. The growth in this group will accelerate as a tidal wave of baby boomers age. Currently, 556,000 state residents are 65 and older; by 2020, that figure is projected to rise to 748,000. Nearly half of those individuals who reach the age of 65 will spend some time in a nursing facility. Given that a high percentage of those people will spend down their assets and go on Medicaid, the state's cost will continue to increase exponentially.

Under the plan, the amount paid for premiums on a long-term care policy could be taken as a state income-tax exemption. To qualify for the exemption, a long-term care policy would have to have a lifetime long-term care benefit of $100,000 or more. It's estimated that the Connecticut program would pay for itself many, many times over because of the Medicaid savings. The DeStefano proposal would be both compassionate and cost-effective, an unbeatable combination.

DeStefano offers the proposal as one of his alternatives to the repeal of the estate tax - believing that the state should invest in long-term care instead of spending millions on more tax breaks for the richest people in Connecticut - something Gov. Rell supports.

"This is a compassionate and cost effective proposal - which many other states have implemented - and it's time we do it here," said DeStefano. "Instead of giving more tax breaks to the very rich, let's help seniors get the care they deserve."