Establishment of Federal Long-Term Care Insurance Trust Fund

(a) In general There is hereby created on the books of the Treasury of the United States a trust fund to be known as the Federal Long-Term Care Insurance Trust Fund. The Federal Long-Term Care Insurance Trust Fund shall consist of such gifts and bequests as may be made as provided in section 201(i)(1) of the Social Security Act (42 U.S.C. 401(i)(1)) and such amounts as may be appropriated to, or deposited in, the Federal Long-Term Care Insurance Trust Fund as provided in this section. (b) Appropriation There is appropriated to the Federal Long-Term Care Insurance Trust Fund out of moneys in the Treasury not otherwise appropriated— (1) for each of fiscal years 2026, 2027, and 2028, $12,000,000 for the initial establishment of the Long-Term Care Insurance program and payment of benefits during such fiscal years; and (2) $50,000,000 for public education relating to the Long-Term Care Insurance program as described in section 6(a). (c) Management of Trust Fund The provisions of subsections (c), (d), (e), (f), (i), and (m) of section 201 of the Social Security Act (42 U.S.C. 401) shall apply with respect to the Federal Long-Term Care Insurance Trust Fund in the same manner as such provisions apply to the Federal Old-Age and Survivors Insurance Trust Fund and the Disability Insurance Trust Fund, except that the Managing Trustee (within the meaning of subsection (d) of such section) may invest such portion of the Federal Long-Term Care Insurance Trust Fund as the Managing Trustee considers appropriate in conservative market securities. (d) Administration There are authorized to be made available for expenditure, out of the Federal Long-Term Care Insurance Trust Fund, such sums as may be necessary to pay the costs of the administration of section 3, including start-up costs, technical assistance, outreach, education, evaluation, and reporting. (e) Report Not later than 5 years after the date of enactment of this Act and every 5 years thereafter, the Board of Trustees (as defined for purposes of title II of the Social Security Act) shall submit a report to Congress evaluating the impact of long-term care insurance benefits under section 235 of such Act and making recommendations relating to potential geographical adjustments of the amount of such benefits. (f) Allowing gifts To be made to the Federal Long-Term Care Insurance Trust Fund Section 201(i)(1) of the Social Security Act (42 U.S.C. 401(i)(1)) is amended— (1) by striking, or the Federal and inserting, the Federal; and (2) by inserting after in such Trust Fund) the following:, or the Federal Long-Term Care Insurance Trust Fund established under the Well-Being Insurance for Seniors to be at Home Act.