A Touch of Class in Long Term Health Insurance

As Americans are living longer, long term health insurance has been a topic on a lot of people's minds. It was on late Senator Ted Kennedy's agenda when he fought for and won the battle over a provision of the Affordable Care Act known as the Class (Community Living Assistance Services and Supports) Act. Basically, Class is the nation's first voluntary, federally-run long term health insurance plan. By signing up and paying a small monthly premium, Class would allow both the employed and self-employed to obtain a daily cash benefit to help defray the costs to assist with things like activities-of daily-living, whether it be in old age, or at middle age due to a disability or accident.

Though little-noticed by the average American, politicians started battling over the Class Act almost as soon as the Affordable Care Act was passed. Those on the left said it would cut the deficit and provide much needed security for older Americans. On the other side, they decried it as a government-run health care Ponzi scheme. In July 2011 the so-called Gang of Six, a bipartisan congressional committee convened to address the budget deficit, recommended the repeal of the Class Act as a way to save the nation's money. Today, as healthcare consumers continue to make difficult decisions about whether and how to buy long-term health insurance privately, the battle over the Class Act rages on between the politicians and advocacy groups.