CLASS Act Repealed
Many people have become hopeful that the Community Living Assistance Services and Supports Act, better known as CLASS Act would be the answer to the long running issues and concerns with regards to the LTC requirements of the majority of the United States population.
But along with these anticipations and expectations, there are also others who doubted the real worth of the provision. Since President Barack Obama has signed it into law on March 2010, the public has been watchful and curious of how it will work out and if it will truly deliver the benefits that it promised.
However, due to the limited funds and resources, along with the not yet fully organized conditions and regulations, the provision was cancelled late last year (2011) by the Department of Health and Human Services, which brought great disappointments and frustrations to its supporters, particularly those who have seen it as the last option that they could take to own an LTC plan.
Originally, the program would be available and be provided to all working individuals, regardless of their income and health condition. This makes it the easiest and most ideal alternative to those who were not able to qualify to the strict requirements of LTC policies or cannot afford the expensive monthly premiums that private long term care insurance plans usually offer.
It also probably has the cheapest premiums in all the LTC policy options available to public for it was mainly created to address the needs of the population of those who belong to the average income earners and below the poverty level brackets.
The ideal process would be that all working individuals will be automatically enrolled in the CLASS Act program, but those who already own an LTC plan acquired from a private insurance provider can back out from it. Once the person is enrolled, his employer will deduct the monthly premiums from his salary and put it in the program’s trust fund.
There is also an option for the employers to shoulder a certain portion of their enrolled employees’ premiums but this is not mandatory and the employers could decide for themselves if they will do so or not.
But sadly, just after almost 19 months after it became a law, the program was repealed and was completely deleted from the possible options that the public can choose from for their LTC requirements. This now leaves the public more concerned on what they can do to somehow afford and have the opportunity to enjoy the benefits that they can get from LTC insurance policies without spending too much on the premiums.
The government, although also troubled and concerned on the cancellation, has encouraged the public to look for more options and alternatives that they can take so that they would still be able to receive good LTC services and facilities.
The cancellation of the CLASS Act may be a big blow to the hopes of the public to be entitled for cheap long term care insurance plans but the quest for the perfect and most applicable LTC program to address their needs is not over yet. They can expect more programs from the government in order to stop the endless search to ease the LTC-related burdens of the American citizens.
Visit our website to find resources on CLASS Actand long term care quotes.
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