Vermont H 120: An act relating to the study and design of a long-term care trust fund

Bill Text

BILL AS INTRODUCED H.120
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VT LEG #380011 v.1
H.120 1
Introduced by Representatives Noyes of Wolcott and Yacovone of Morristown 2
Referred to Committee on 3
Date: 4
Subject: Human services; long-term care; trust fund; Agency of 5
Administration; study 6
Statement of purpose of bill as introduced: This bill proposes to require the 7
Secretary of Administration to study and design a trust fund that will provide 8
for long-term care for certain Vermont residents, and to propose legislation to 9
statutorily create this fund. 10
An act relating to the study and design of a long-term care trust fund 11
It is hereby enacted by the General Assembly of the State of Vermont: 12
Sec. 1. LONG-TERM CARE TRUST FUND; AGENCY OF 13
ADMINISTRATION; STUDY; REPORT 14
(a) The Secretary of Administration shall study and design a trust fund 15
that would provide for long-term care of eligible persons. In particular, the 16
Secretary shall study the following: 17
(1) the creation and design of the trust fund based on a social insurance 18
model, such as Social Security; 19
(2) a funding plan addressing: 20

BILL AS INTRODUCED H.120
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VT LEG #380011 v.1
(A) the collection of funds starting on July 1, 2026 for a minimum 1
of three years before benefits would be provided; and 2
(B) the collection of funds from residents of Vermont who have a 3
Vermont taxable income of over 150 percent of the federal poverty level; 4
(3) the creation of a governing committee, and a recommended 5
composition of this committee, that would: 6
(A) administer the fund; 7
(B) develop the benefit package and eligibility thresholds based on 8
capacity to carry out activities of daily living and cognitive challenges; and 9
(C) develop regulations regarding the portability of benefits for 10
persons who pay into the system and then leave Vermont; 11
(4) the viability of persons being eligible for benefits after paying into 12
the program for at least two years; and 13
(5) the transfer of fund resources to Medicaid, to be used in providing 14
long-term care services. 15
(b) The Secretary may receive assistance from any agency, department, 16
division, or office and any board or commission of any such entity, or any 17
independent board or commission, in the Executive Branch of the State. 18
(c) On or before January 15, 2026, the Secretary shall submit a written 19
report on its findings to the House Committees on Appropriations, on Human 20
Services, and on Ways and Means and the Senate Committees on 21

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VT LEG #380011 v.1
Appropriations, on Finance, and on Health and Welfare. The report shall 1
include any necessary proposed legislation to implement the creation of the 2
fund. 3
Sec. 2. EFFECTIVE DATE 4
This act shall take effect on July 1, 2025. 5