What Happens After CLASS?

The Obama administration abandoned the Community Living Assistance Services Supports Act, and now many are wondering how the U.S. will meet the financial needs of the 20 million Americans that will require long-term care in the next few decades.

Some independent analysts claim that a system of universal insurance would likely succeed in financing America’s long-term care needs. On the other hand, congress could create a system built on private insurance. In fact, a model for a private insurance system may already exist—Medicare Part D drug benefit. Under Part D, the sale of insurance by private companies is regulated and consumers can compare prices and policies.

See Howard Gleckman, CLASS is Killed: But How Will We Pay for Long-Term Care Services?, Forbes, Oct. 15, 2011.

Special thanks to Jim Hillhouse (WealthCounsel) for bringing this article to my attention.