Directs the Secretary of Health and Human Services to provide for a study to determine: (1) future demand for long-term health care services in the United States to meet the needs in the 21st century; and (2) long-term options to finance the provision of such services.

Requires the Secretary to report on such study and include in the report recommendations on: (1) the most effective and efficient manner that the Federal Government may use its resources to educate the public on planning for needs for long-term heath care services; (2) the public, private, and joint public-private strategies for meeting identified needs for such services; and (3) the continuing role of States in the financing of such services.

Directs the Secretary to seek to enter into an arrangement with the Institute of Medicine of the National Academy of Sciences to conduct such study.