Bill to Help Oklahomans with Long-Term Care Signed

Legislation to encourage more Oklahomans to purchase long-term care insurance has been signed into law. Senator Kathleen Wilcoxson, R-OKC, is author of Senate Bill 1547, a measure aimed at helping Oklahomans meet their long-term care needs without forcing them into poverty.

“Right now, people who are able to plan ahead for long-term care don’t have much incentive to do so. Many sign away assets or are basically forced into poverty in order to be able to get Medicaid assistance for long-term care. This legislation will help create a long-term care partnership to offer Oklahomans an alternative to spending down their entire life savings,” Wilcoxson explained.

Under the legislation, those who purchase long-term care insurance and then exhaust their benefits would still be able to keep assets equal to the amount of the policy and remain eligible for Medicaid assistance.

“In the long-run, this will reduce the amount that our state is paying to help Oklahomans with long-term care, because more of them will have an incentive to purchase at least some level of coverage,” said Rep. Joan Greenwood. The Moore Republican authored a similar measure in the House this session and is co-author of Wilcoxson’s bill.

Sen. Wilcoxson pointed out that Congress still needed to authorize Oklahoma’s program. Wilcoxson also authored a resolution in the Oklahoma legislature calling on Congress to pass federal legislation addressing the issue.

“This is something that is going to benefit Oklahomans as well as our already overly strained Medicaid program. I am pleased Gov. Henry agrees and I’m optimistic that Congress will pass the necessary authorization,” Wilcoxson said.