The CLASS Act Health Reform Adds a Twist to Long-term Care Insurance
January 17, 2011
Julie R. Lackner, Esq.
Imagine that long-term care insurance meets Medicaid, and you will begin to have some idea about the new CLASS Act. CLASS is a program established by the new health care law, and it stands for the Community Living Assistance Services and Supports.
In a time when long-term care costs are expensive and only becoming more so, the program represents the first major attempt of the federal government to provide long-term care benefits. The program went into effect on January 1, 2011, but it is unlikely that you’ll be able to enroll before 2012 because a number of details still need to be ironed out. The program will be administered by the federal Department of Health and Human Services (HHS) and its secretary, Kathleen Sebelius. CLASS is completely voluntary and is meant to provide cash benefits to working adults who become functionally disabled.
The program is similar to private long-term care insurance because you pay the premiums. It resembles Medicaid, however, it offers lifetime benefits and can’t exclude people with pre-existing conditions. ...
You may read more at the link below.
by: Julie R. Lackner
BusinessWest
January 17, 2011
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