CLASS Act

Professional Alliance member Sean Bleck shared the following information with us on the CLASS Act, a new payroll deduction for long term care coverage.

The health care reform legislation that was enacted March 23, 2010, included a novel public insurance model to cover some of the cost of long-term care for qualified participants. The program is called The Community Living Assistance Services and Supports Act, but is universally referred to as the “CLASS Act.” Both widely heralded and savagely maligned, this program would create a trust fund from voluntary payroll deductions. After 5 years, participants who need long-term care could draw $50 to $75 per day, adjusted for inflation, for as long as they need long-term care.

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