Unfolding The Long Term Care Class Act

The new health care reform law launches the first federal and consumer financed program

called the Community Living Assistance Services and Support Act or CLASS Act.

This program is the answer to the seemingly far-fetched dream of many Americans of having affordable public health care program to help them pay costly long term care services. Currently, nursing home costs an average of $75000 while home care costs $20 an hour, these prices will increase in the succeeding years that exacerbate the problem of many American families. Long term care services are not limited to elderly individuals; they are also widely needed by people with disabilities. The CLASS Act also aims to revamp the untenable provisions in Medicaid by introducing consumer funded scheme that wont affect the overall public budget and mitigating the asset limit requirement. Most of the provisions in the CLASS Act aim to lessen the impact of outrageous long term care effects on people

How to Qualify for CLASS Act

Working adults will pay the premiums, which are used to buy long term care insurance policies, through payroll deduction. The program is voluntary, meaning no one is obliged to participate. Employers may choose to enrol employees automatically, but employees reserve the right to opt out. Some of the conditions are similar to private insurance: younger participants receive much lower premiums. Retiring members or those who simply leave the labor force may still continue their participation. The poor members and full time students will pay for nominal premiums.

What About the Benefits?

A five year payment of premiums is required before members receive benefits that they can use to purchase long term care services in their homes, nursing homes, assisted living facility, and adult day care. The benefits come in the form of cash that individuals may use in availing either non medical or medical services. The amount of daily benefit is yet to be discussed. Moreover, CLASS Act will only mitigate the financial woes of many Americans in long term care by helping individuals earn modest savings to finance their long term care, but it does not necessarily substitute private long term care insurance.

Does CLASS Act Finance other Health Care Reform

CLASS Act does not finance any other health care programs. The premiums paid by voluntary members will be put in a pool, and this will later used to pay for the benefits each participant will receive. The government tries to avoid the same problems that Medicaid has caused in the country. The law assigns the Secretary of Health and Human Services to determine the benefits and premiums that will bring in sufficient money that will pay for each generation of workers and avoid budget deficit. Based on initial estimates the average daily benefit could be $75 while monthly premiums range from $123 to $150 a month

by: Jessica Martinez

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