Posted on 09/14/2011 3:03:44 PM PDT by maggief
WASHINGTON (AP) — Even as leading Democrats offered assurances to the contrary, government experts repeatedly warned that a new long-term care insurance plan could go belly up, saddling taxpayers with another underfunded benefit program, according to emails disclosed by congressional investigators.
Part of President Barack Obama's health care law, the program is in limbo as a congressional debt panel searches for budget savings and behind the scenes, administration officials scramble to find a viable financing formula.
A longstanding priority of the late Sen. Edward M. Kennedy, D-Mass., the Community Living Assistance Services and Supports program, or CLASS, was spliced into the health care law despite nagging budget worries. Administration emails and documents reveal that alarms were sounded earlier and more widely than previously thought. Congressional Republicans seeking repeal of the program provided the materials to The Associated Press.
(Excerpt) Read more at google.com ...
The Class Act is a joke.
When planning for retirement one must consider having a good LTC plan in place. I would strongly encourage anyone to seek competitive quotes from several of the top carriers. (Prudential, Mutual of Omaha, Transamerica, Genworth, John Hancock...etc.)
An LTC specialist should be able to provide an “apples to apples” comparison between what the Feds offer and the top programs.
If you need assistance locating such a specialist, feel free to contact me privately.
Best, Proudpapa
Don’t forget AmEX
MetLife permanently stopped selling LTC this year. It is a losing business proposition, and I fear for taxpayers - hopefully it will somehow get cut.
Who?
Just kidding. I didn’t include them because they haven’t sold any new policies in many, many years.
This is big............people need to pay attention to this
Who?
Just kidding. I didn’t include them because they haven’t sold any new policies in many, many years.
“This is big............people need to pay attention to this”
It is ... and, I should have posted in front page news.
The list, ping
Let me know if you would like to be on or off the ping list
.
> Ping.
AP Exclusive: Long-term care plan alarms ignored (CLASS)
WASHINGTON (AP) — Even as leading Democrats offered assurances to the contrary, government experts repeatedly warned that a new long-term care insurance plan could go belly up, saddling taxpayers with another underfunded benefit program, according to emails disclosed by congressional investigators.
. . . . Important.
> Check out article.
Thanks, maggief.
sometimes you can hit the abuse button and ask it to be moved also
*
So if I’m really sick, I can pay for this program for about 3-4 months, and for my $300 - $400 investment, CLASS will pay out $1500 a month for nursing home care until I die? Wow, I like that kind of return! It’s about as good as Medicare Part B where for only $120 per month I get at least 9 dialysis sessions (most folks need 13-14) at about $1200 each = $7200/month for me ($10,000 for others). And there are 500,000 of us out there on dialysis. Suckers!!
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