CLASS Act

[Arthur Rudnick]

[FONT='Arial','sans-serif']WSJournal: GOP Should Work To Repeal CLASS Act.[/FONT]

[FONT='Arial','sans-serif']TheWall Street Journal (2/100 editorializes that HHS Secretary Kathleen Sebelius is the latest Obama Administration official to admit that there are problems with the healthcare law, this time, with the Community Living Assistance Services and Support (CLASS) Act. The Journal quotes Sebelius as saying during a talk earlier this week, "The law, while the structure in the statute wasn't perfect, provided ample flexibility to make sure that Class is successful," and "we at HHS are committed to using that authority to making sure that both the program meets people's needs while remaining fiscally sound." But, the paper wonders why Sebelius did not mention these problems prior to the law's passage, and says that the GOP should make the CLASS Act its next target for repeal. [/FONT]

 

[Mr_Ed]

[FONT='Arial','sans-serif']WSJournal: GOP Should Work To Repeal CLASS Act.[/FONT]

[FONT='Arial','sans-serif']TheWall Street Journal (2/100 editorializes that HHS Secretary Kathleen Sebelius is the latest Obama Administration official to admit that there are problems with the healthcare law, this time, with the Community Living Assistance Services and Support (CLASS) Act. The Journal quotes Sebelius as saying during a talk earlier this week, "The law, while the structure in the statute wasn't perfect, provided ample flexibility to make sure that Class is successful," and "we at HHS are committed to using that authority to making sure that both the program meets people's needs while remaining fiscally sound." But, the paper wonders why Sebelius did not mention these problems prior to the law's passage, and says that the GOP should make the CLASS Act its next target for repeal. [/FONT]

let's hope it's not repealed.

 

[houcoogster]

She is singing a whole different tune as of late. Hahaha Amazing isn't it!
All of that power she once wielded is slowly fading away right before her very eyes.

 

[Arthur Rudnick]

"let's hope it's not repealed".

Another misguided sole........

By your comment, I can only assume that you're a firm supporter of ObamaCare including CLASS Act. In fact, you most likely are upset that ObamaCare doesn't include the full Public Option.

No reason for competition in the marketplace, no reason for agents & brokers to exist and make a living. Just let the feds handle every aspect of health care, including LTC insurance.

Why not ask those who sell health insurance how they're doing with ObamaCare now that their commissions have been cut to practically nothing?

If anything is going to be cut from the present law, it's going to be the CLASS Act. Just about everyone on the planet agrees that this is nothing more than a ponzi scheme and in fact one senator was quoted as saying that "Class Act would make Bernie Madoff proud".

It is financially unsustainable, it will add to the deficit, it will insure only the uninsurable and would make you & your friends; Obama, Pelosi, Reid and Ted Kennedy happy as can be.

All of this for what? Letting the public know that LTCi is important and the government won't pay for LTC services? And doing so at the expense of having the feds go into competition with me, you and every other LTCi agent & broker out there?

This business is tough enough without having to fight a government sponsored program. Consumers will purchase federal LTCi under the Class Act because they don't know any better. How many people purchase a group LTC plan from their employer without having a clue what the policy is about?

I've seen group plans that offer 45 year olds a policy at $100/day without an inflation rider. And when you solicit them for LTCi, their answer is "Oh, I already have a policy, I'm not interested." They never had the opportunity to sit with a broker and do a comparison.

Same thing with those who will be offered the federal plan. They'll buy it and never get in front of a broker to see what else is available for them.

Be careful for what you wish for.

 

[Mr_Ed]

"let's hope it's not repealed".

Another misguided sole........

By your comment, I can only assume that you're a firm supporter of ObamaCare including CLASS Act. In fact, you most likely are upset that ObamaCare doesn't include the full Public Option.

No reason for competition in the marketplace, no reason for agents & brokers to exist and make a living. Just let the feds handle every aspect of health care, including LTC insurance.

Why not ask those who sell health insurance how they're doing with ObamaCare now that their commissions have been cut to practically nothing?

If anything is going to be cut from the present law, it's going to be the CLASS Act. Just about everyone on the planet agrees that this is nothing more than a ponzi scheme and in fact one senator was quoted as saying that "Class Act would make Bernie Madoff proud".

It is financially unsustainable, it will add to the deficit, it will insure only the uninsurable and would make you & your friends; Obama, Pelosi, Reid and Ted Kennedy happy as can be.

All of this for what? Letting the public know that LTCi is important and the government won't pay for LTC services? And doing so at the expense of having the feds go into competition with me, you and every other LTCi agent & broker out there?

This business is tough enough without having to fight a government sponsored program. Consumers will purchase federal LTCi under the Class Act because they don't know any better. How many people purchase a group LTC plan from their employer without having a clue what the policy is about?

I've seen group plans that offer 45 year olds a policy at $100/day without an inflation rider. And when you solicit them for LTCi, their answer is "Oh, I already have a policy, I'm not interested." They never had the opportunity to sit with a broker and do a comparison.

Same thing with those who will be offered the federal plan. They'll buy it and never get in front of a broker to see what else is available for them.

Be careful for what you wish for.

Actually, I don't support the PPACA (nor Reid, nor Pelosi, nor Obama). But, I do support the CLASS Act, primarily because it is employer-based and every employer will need to educate their employees about the need for long-term care planning.

I think the CLASS Act is good for the country because it will force more people to think about long-term care planning.

I think it will be very good for long-term care insurance sales, especially employer-based long-term care insurance sales.

Your statement that "it will add to the deficit" is misguided. How can it "add to the deficit" when it is not funded by taxes?

The law specifically states that only premiums can be used to pay the benefits--NOT TAXES.

The law also states that the secretary of HHS is required to lower the CLASS Act benefits and/or increase the CLASS Act premiums in order to keep the program solvent using only the premiums of the participants.

In order for it to "add to the deficit" the CLASS Act would have to be completely changed to allow taxes to be used to fund the program.

If you're going to judge the CLASS Act, please judge it on what the law states, not on what you think the law might become 20 years from me.


- - - - - - - - - - - - - - - - - -

"let's hope it's not repealed".

Another misguided sole........

I'm not a fish.


- - - - - - - - - - - - - - - - - -
Here's a link that validates what I said about no taxpayer funds being used:

What is the CLASS Act (Community Living Assistance Services and Support Act) « LTCShop.com

 

[Arthur Rudnick]

"I think the CLASS Act is good for the country because it will force more people to think about long-term care planning."
"Actually, I don't support the PPACA, but, I do support the CLASS Act...."

Then what you're saying is that for selfish reasons, you are willing to allow everyone in the country to be subjected to a program that is ill conceived, actuarially unsound, unsustainable, that WILL require a taxpayer bailout down the road, thereby, adding to the deficit.

"The law specifically states that only premiums can be used to pay the benefits
--NOT TAXES".

Really, ever hear of the Social Security Trust Fund or the Medicaid Trust Fund? Over $120 TRILLION dollars that the government collected as part of a program and "borrowed" to pay for other projects. The CLASS Act is nothing more than another entitlement that will collect billions of dollars that the government will borrow against and once again say "Just like SS & Medicaid, TRUST ME we'll pay it back".

According to a July, 2010 report by the Heritage Foundation:

"Proponents of Health Care Reform claim that it will simultaneously provide millions of Americans with health insurance and reduce the budget deficit by hundreds of billions of dollars. Yet Health Care Reform's proclaimed budgetary discipline rests on unlikely assumptions and budget gimmicks—none worse than the CLASS Act, a national long term- care insurance program. CLASS is essentially a Ponzi scheme that will run initial surpluses followed by massive deficits—virtually guaranteeing program bankruptcy or, more likely, massive taxpayer bailouts.
The surest way to avoid a future of massive, permanent taxpayer bailout is for Congress
to repeal CLASS before it begins enrolling participants on January 1, 2011".

How can you not support Health Care Reform but support Class? Sorry, but you can't have it both ways. If you support Class, you also have to support Health Care Reform, you can't separate the two. Health Care Reform and CLASS are tied together at the hip.

Incidentally, you didn't address one point that I made in my post.
And, I didn't call you a Filet of Sole I called you a Misguided Sole.

Boy, you sound just like a guy I used to know, but you couldn't possibly be him because he lives in CA and you live in NJ.

 

[arnguy]

Oh gosh, I thought this thread was about me!

 

[Mr_Ed]

Boy, you sound just like a guy I used to know, but you couldn't possibly be him because he lives in CA and you live in NJ.

Sounds like a smart guy.



I never said I live in NJ.

 

[Arthur Rudnick]

No you didn't, but your state flag is from NJ.

Amazing, I'm on this Forum for a week and within 48 hours after making my first post, I'm in a pissing contest with you.

I guess with SAO, There's Never A Dull Moment

 

[Mr_Ed]

No you didn't, but your state flag is from NJ.

Amazing, I'm on this Forum for a week and within 48 hours after making my first post, I'm in a pissing contest with you.

I guess with SAO, There's Never A Dull Moment

I'm FROM NJ. I don't live in NJ>




... and, if you ask me, it's no contest.