Long-Term Health Care Markets Development Act

[AI summary unavailable — showing source text] Long-Term Health Care Markets Development Act - Title I: Tax-Free Withdrawals from IRA's Permitted for Payment of Long-Term Care Insurance Premiums - Amends the Internal Revenue Code to exclude from gross income any distribution from an individual retirement plan if: (1) the payee has attained age 59 1/2 on or before the date of the distribution; and (2) the distribution is used to pay premiums for an insurance policy covering at least 12 months of medically necessary care for the payee or a spouse meeting the same 59 1/2 year age requirement. Title II: Employers Encouraged to Offer Higher Deductibles on Employer-Provided Group Health Insurance - Amends the Internal Revenue Code to empower the trustee of an eligible individual retirement account (IRA) maintained for the benefit of an employee electing employee group health insurance coverage under a qualified high-deductible option to extend credit to the employee to pay certified medical expenses. Uses the IRA assets as security for such credit, which is subject to specified limits. Authorizes credit only in connection with plans under which the employer contributes to the employee's IRA the premium savings resulting from the empl…