The Joint Committee on Elder Affairs of the Massachusetts Legislature convened on June 24, 2025, to discuss critical legislation aimed at improving long-term care services in the state. The meeting featured testimony from several key stakeholders, including representatives from the National Association of Insurance and Financial Advisors (NAFA) of Massachusetts, who expressed strong support for Senate Bill 476 and House Bill 792. These bills propose the establishment of a special commission to evaluate a statewide long-term care services and supports benefits program.

Adam Sachs, a financial adviser and past president of NAFA Massachusetts, highlighted the urgent need for a public option for long-term care insurance, citing personal experiences with family members who required such care. He emphasized the financial strain that long-term care places on both individuals and the state budget, particularly through programs like MassHealth and Medicaid. Sachs commended the foresight of Representative Stanley and Senator Jalen in creating the commission, which aims to explore payroll-deducted long-term care insurance options.

Josh O'Gara, another NAFA representative, underscored the broader economic impact of long-term care, noting that the burden extends beyond those receiving care to their families, who often serve as caregivers. He reiterated the importance of the commission in addressing these challenges and providing insights into the implications for Massachusetts residents.

Steve Schoenfeld, a health care actuary, shared his extensive experience in long-term care policy and financing. He stressed the necessity of collaboration between public and private sectors to create sustainable solutions for long-term care financing. Schoenfeld pointed out that both sectors face financial limitations, making a cooperative approach essential for developing effective care options.

The committee members acknowledged the pressing need for a comprehensive solution to long-term care challenges in Massachusetts, especially as the population ages. They expressed a commitment to engaging with various stakeholders to ensure that any proposed legislation effectively addresses the needs of the community.

In conclusion, the meeting highlighted a significant step towards addressing long-term care issues in Massachusetts, with the proposed commission poised to explore innovative solutions that could benefit both individuals and the state as a whole. The collaboration between financial advisors, actuaries, and lawmakers aims to create a more sustainable and inclusive long-term care system for the future.