We wanted to share some insight into something BIG that is hidden in much of the health care reform talk. It’s the CLASS Act – Community Living Assistance Services and Supports (CLASS) Act. In short, the government would provide certain long term care services (once someone pays into the program for a certain number of years.) You’ll hear both sides of the story, but for a quick overview, I’d recommend reading Howard Gleckman’s piece HERE
Every worker would get basic coverage under CLASS, for care either at-home or in a nursing facility. They’d pay premiums for five years, and they’d have to need help with at least two activities of daily living (such as bathing or dressing) before they’d be eligible for benefits. While these would be modest (perhaps $75 a day), they would be available in cash. It is hard to overestimate how significant this could be for those Americans who need assistance and the 40 million family members and friends who care for them.
Tomorrow we’ll share the first of some video interviews with Claude Thau, who comments on the CLASS Act and what it may mean for long term care and to long term care insurance companies.
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