Tag Archive | CLASS Act

“The reports of my death have been greatly exaggerated.”–Mark Twain

For years “experts” have concluded that the long-term care insurance industry is dead.  Here are some of the headlines: “What’s killing the long-term care insurance industry?”  Aug. 2012 “Long-term care insurance begins to fade away”–New York Times, Nov. 2010 “When a Safety Net is Yanked Away–is Long-Term Care Insurance Doomed?”–NYT Nov. 2010 Crumbling Economics Undermines […]

What Health Reform Doesn’t Cover: Long-Term Care for the Elderly

There’s a great article on CBS Money Watch entitled, “What Health Reform Doesn’t Cover:  Long-Term Care for the Elderly”. One of the biggest misconceptions about the CLASS Act (Community Living Assistance Services and Support Act) is that “it will help the elderly receive care at home.” But, the CLASS Act legislation requires that you must pay premiums for […]

The real message of the CLASS Act!

After the healthcare reform bill (PPACA) passed in March 2010, some people mistook the CLASS Act program as some type of new entitlement. The Community Living Assistance Services and Supports Act (aka The CLASS Act) is the exact opposite of an entitlement program.   The message the federal government is sending to all of us through […]

The difficulties that lie ahead for the CLASS Act

Howard Gleckman, author of “Caring for Our Parents” does a superb job of explaining the difficulties facing the CLASS Act program (Community Living Assistance Services and Support Act).  In order for the CLASS Act program to be successful, the federal government will have to balance a lot of competing interests. The Secretary of Health and Human […]

Does the CLASS Act become effective on January 1, 2011?

When does the CLASS Act (Community Living Assistance Services and Supports Act) become effective? There is a lot of confusion about when the CLASS Act becomes effective.  Many reputable sources have erroneously stated that the CLASS Act starts on January 1, 2011, including Kaiser Health News, The National Federation of Independent Business (NFIB), and even […]

A Summary of the New CLASS Act (Community Living Assistance Services and Support Act)

Below is a summary of the portion of the healthcare reform law, known as the “CLASS Act”.  C.L.A.S.S. stands for:  Community Living Assistance Services and Support Act. Who can enroll in the CLASS Act? Anyone who is working can enroll, even the self-employed.  The Secretary of HHS will set up a method for enrollment for […]

Why are the CLASS Act premiums projected to be so much higher than traditional long-term care insurance

Why are the CLASS Act premiums projected to be so much higher than traditional long-term care insurance? The Healthcare Reform bill (PPACA) requires that the CLASS Act program be actuarially sound and not funded by taxes.  All benefits must be paid from the premiums of the participants in the program.  No taxpayer funds will be […]