Long-Term Care Insurance for the Elderly Act of 1986

[AI summary unavailable — showing source text] Long-Term Care Insurance for the Elderly Act of 1986 - Amends the Internal Revenue Code to allow tax-free distributions from an individual retirement account or an individual retirement annuity for the purchase of long-term care insurance coverage for the individual within 90 days after the individual receives the payment or distribution and the individual has attained the age of 59 and one-half. Requires the Secretary of Health and Human Services to submit to the Congress a report which contains a proposal for the regulation of long-term care insurance policies, including an analysis and evaluation of such policies available to individuals.…