Argentum Advocates members are invited to an exclusive policy briefing today at 2:00 pm ET to learn more about the $1.7 trillion omnibus spending package and its impact on senior living priorities. Register for this session here.
As we noted yesterday, this year-end legislative package includes numerous priorities that Argentum has advocated for throughout the 117th Congress. These include:
- Workforce Development: Argentum secured language to help transform existing education and training programs to develop the workforce needed to care for the aging population. Specifically, it urges the Employment and Training Administration (ETA), in collaboration with the Department of Health and Human Services, to support the expansion of the workforce to care for a rapidly aging U.S. population and provide home and community-based services to older adults and people with disabilities, including through education and training grant programs, as well as traditional and nontraditional apprenticeship programs. The package also includes $285 million to expand opportunities through apprenticeships grants, cooperative agreements, contracts and other arrangements; additionally, $65 million is allocated to for Strengthening Community College Training Grants and $1.760 billion for Job Corps.
- Disaster Relief: Argentum’s direct discussions with Senator Marco Rubio (R-FL) and his staff regarding senior living provider needs post Hurricanes Ian and Fiona have yielded an appropriation of $858 million to help communities and businesses in impacted areas through The Small Business Administration’s Disaster Loans Program. These loans will help businesses, including senior living operators, to repair or replace disaster-damaged property including real estate, inventories, supplies, machinery and equipment. An appropriation of $5 billion is targeted to The Federal Emergency Management Administration’s Disaster Relief Fund to bolster Hurricanes Ian and Fiona recovery efforts.
- Retirement Savings: The package includes language from the SECURE Act, which among its many provisions include increasing the required minimum distribution age from 72 to 75, removing restrictions that apply to retirement annuities which keep pace with inflation through modest increases, provide payouts to survivors, or allow “period certain guarantees” (lifetime annuities with a minimum payout period that transfers to beneficiaries after death), and makes a tax credit for contributions to a retirement plan refundable (under current law the credit is nonrefundable and is claimed on an individual’s tax return).
- Low-Income Seniors Housing: Argentum called for and has been supportive of proposed increases in Department of Housing and Urban Development (HUD) programs targeted to low-income seniors. The package includes $258.3 million to construct over 2,800 new affordable housing units for seniors and persons with disabilities, and an additional $1 billion for Housing for the Elderly, including $25 million to expand housing units to intergenerational families, to build nearly 1,120 new affordable housing units for low-income seniors. Argentum commends LeadingAge for championing these and other HUD programs that serve vulnerable older adults and is pleased to support these efforts.
- Alzheimer’s Funding: The package includes an increase of $226 million for Alzheimer’s research and $500 million increase for Advanced Research Projects Agency for Health (ARPA-H) to accelerate the pace of scientific breakthroughs for diseases such as ALS, Alzheimer’s disease, diabetes, and cancer. Argentum directly advocated for increased federal funding for Alzheimer’s Disease and dementia related research and associated initiatives. Our advocacy efforts comprised of meetings with members of Congress including Senator Shelley Moore Capito (R-WV) and joining advocacy efforts of leading organizations such as Alzheimer’s Association, Leaders Engaged on Alzheimer’s Disease, US Against Alzheimer’s, and the American Seniors Housing Association. Argentum member Senior Star, specifically Bill and Bob Thomas, have been tireless advocates for these initiatives and play a pivotal role in securing much needed federal funding.
- Telehealth: The package extends for an additional two-years the Medicare rules allowing expanded access to telehealth services and for employers to offer telehealth services pre-deductible to those with a high deductible health plan paired with a health savings account. Argentum joined more than 350 organizations is urging Congress to extend these telehealth provisions.
Thank you again for your engagement as Argentum Advocates as we've worked together this year to get our voices heard and included in this historic package!
