Federal Government Cancels Plans for CLASS Act

Nov 4th, 2011

Category: Blog

Federal Government Cancels Plans for CLASS Act

The Obama Administration announced earlier this week that it will not be pursuing The Community Living Assistance Services and Supports (CLASS) Act, a provision in the 2010 Affordable Care Act.  CLASS was to be a national long-term care insurance program meant to shift the funding of long-term care services in the U.S. from Medicaid-type programs to insurance. But this piece of legislation will not come to fruition because Health and Human Services could not make the program “actuarially sound” within the deadline that the law required.

What does this mean for seniors? There are various opinions, and you can read a few from The Christian Science Monitor, Politico, or a variety of other media outlets.

We believe that, now more than ever, this shows that the future of healthcare, especially long-term care, will put the financial responsibility on the individual. Now is the time to plan, and explore options beyond traditional long-term care insurance and government programs. Call us today to find out the benefits that a service contract through ASSI can offer.