Requesting The Tax Review Commission To Identify Possible Means By Which The Hawaii Long-term Care Financing Program Can Be Implemented.
The passage of HCR38 would lead to a systematic review of the state’s tax structure in relation to the financing of the Long-Term Care Financing Program. If the Tax Review Commission can identify viable means for implementation, it could significantly alter how long-term care is financed in Hawaii, potentially relieving financial burdens on families and ensuring access to necessary care services. The resolution also fosters discussion on the feasibility of revisiting the Long-Term Care Income Tax Credit, aiming to facilitate greater coverage for long-term care.
HCR38 is a House Concurrent Resolution that requests the Tax Review Commission to identify potential methods for implementing the Hawaii Long-Term Care Financing Program (LTC Financing Program). Established by Act 245 in 2002, the LTC Financing Program aims to provide universal and affordable long-term care for all eligible residents of Hawaii, regardless of their income. The details surrounding the implementation and funding of this program have yet to be established, which is the primary focus of the resolution.
There may be points of contention surrounding the financing mechanisms proposed. Past legislative attempts to introduce tax credits for long-term care insurance have faced challenges, including vetoes, indicating that stakeholders might have differing views on fiscal responsibility and appropriate funding strategies. This resolution opens avenues for debate on how to balance comprehensive long-term care services with budgetary constraints and the existing tax structure in the state, thus highlighting the complexities involved in public health policy.