Health & Fitness
CLASS Act: How the Government's Failure Affects Your Long-Term Care
The CLASS Act has come to an end before even starting.
On Oct. 14, 2011, the U.S. Government abandoned the CLASS Act (Community Living Assistance Services and Supports), a public option for long-term care coverage championed by the late Sen. Edward Kennedy.
Explaining why the government was unable to financially sustain the CLASS Act, US Secretary of Health and Human Services Kathleen Sebelius wrote on the Huffington Post that by 2020, an estimated 15 million Americans will need some kind of long-term care.
“And at $75,000 a year for a nursing home and $18,000 a year for home health care, most families cannot afford to pay out of pocket,” Sebelius wrote.
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The need is still there – seven in ten Americans will need long-term care – but the government support is not. If, like many Americans, you’re assuming Medicare will cover your long-term care needs, it offers limited protection at best.
Where the public sector failed, the private sector can help. Please contact me if you would like more information or education regarding your long term care needs 631-262-7167
