Abstract

http://ssrn.com/abstract=1692288
 
 

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Financing Long-Term Care After Health Care Reform


Richard L. Kaplan


University of Illinois College of Law


Journal of Retirement Planning, p. 9, July-August 2010
Illinois Program in Law, Behavior and Social Science Paper No. LE10-001

Abstract:     
Among the many features of the 2010 health care legislation is a new entitlement program to fund long-term care called Community Living Assistance Services and Supports, or CLASS. Beginning possibly as early as January 2011, employees of participating employers will be automatically enrolled in CLASS’s payroll-reduction plan and will become eligible for benefits after five years of continuous enrollment. These benefits will be calibrated by an enrollee’s degree of impairment and may be applied to the full range of long-term care services, from paying relatives for family-provided care and modifying a personal residence to funding adult day care, assisted living facilities, and nursing homes. These benefits are provided as long as the recipient qualifies for them, without any limit as to duration or total dollars expended. This article examines the CLASS program and compares its various features to currently available long-term care insurance policies, focusing on benefit eligibility, enrollment procedures, scope of benefits, ease of acquisition, program solvency, premium stability, and other programmatic features as well.

Number of Pages in PDF File: 12

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Date posted: October 16, 2010 ; Last revised: October 21, 2010

Suggested Citation

Kaplan, Richard L., Financing Long-Term Care After Health Care Reform. Journal of Retirement Planning, p. 9, July-August 2010; Illinois Program in Law, Behavior and Social Science Paper No. LE10-001. Available at SSRN: http://ssrn.com/abstract=1692288

Contact Information

Richard L. Kaplan (Contact Author)
University of Illinois College of Law ( email )
504 E. Pennsylvania Avenue
Champaign, IL 61820
United States
(217) 333-2499 (Phone)
(217) 244-1478 (Fax)

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