The Potential Effects of Obamacare on LTC

[csalter]

So with the Supreme Court upholding Obamacare, what kind of effect will the law have on LTC. What kind of impact will it have on premiums if any? Is it too early to tell?

 

[Chuckles21]

So with the Supreme Court upholding Obamacare, what kind of effect will the law have on LTC. What kind of impact will it have on premiums if any? Is it too early to tell?

To my understanding, it shouldn't effect it at all. What part of the bill do you think will change the industry?

 

[yankee466]

The Class Act was already stripped out........

The impact will be by heavily taxing everyone to pay for the plan, there will be no money left to pay for LTC insurance. The wealthy people will be mandated to have at least three poor people living in their homes...where they will live for free. Who needs 6 bedrooms anyway?. The poor people living there will then be required to bathe, feed and dress the rich people in return. Hence the need for the insurance will go away. We will have a much better society.

Maybe that helps.

 

[Mr_Ed]

So with the Supreme Court upholding Obamacare, what kind of effect will the law have on LTC. What kind of impact will it have on premiums if any? Is it too early to tell?

Here's a link to an interesting article about the CLASS Act (which was part of the healthcare reform bill.)

The administration is no longer funding the CLASS Act, but, to my knowledge, it has not yet been repealed so it is still law.

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


here's another good article:

How is the CLASS Act better than traditional long-term care insurance « LTCShop.com


and another:

The 3 big disadvantages to the CLASS Act « LTCShop.com


and this one is really good too:

Why are the CLASS Act premiums projected to be so much higher than traditional long-term care insurance « LTCShop.com


(I just love how this guy writes--plain and simple and straightforward.)

(he's so handsome, too.)

 

[2insureyou]

Ya gotta remember there is also still a chance the whole thing gets repealed if Romney and the Republicans have the kind of November they're hoping for.

That being said, even though the CLASS act is still technically law, if it's not funded, it's effectively dead. (i.e. the Administration's decision to not enforce certain immigration laws makes that effectively dead for now)

Can it come back, yep... Will it? I doubt it. At least not in it's current form. Even the supporters of the CLASS act had to admit it was unsustainable.

 

[AllenChicago]

October 15, 2014

The US Government (HHS) is revisiting the possibility of offering Long Term Care coverage that will be far more robust than what was contained ObamaCare CLASS Act, which was terminated in October 2011, without ever being implemented.

HHS secretary, Sylvia Burwell, is setting up a new division to gather data on the needs of the Elderly. This data is expected to drive development of new Government sponsored LTC programs.

Full Story: HHS creates LTC policy agency | LifeHealthPro

ac

 

[Mr_Ed]

October 15, 2014

The US Government (HHS) is revisiting the possibility of offering Long Term Care coverage that will be far more robust than what was contained ObamaCare CLASS Act, which was terminated in October 2011, without ever being implemented.

HHS secretary, Sylvia Burwell, is setting up a new division to gather data on the needs of the Elderly. This data is expected to drive development of new Government sponsored LTC programs.

Full Story: HHS creates LTC policy agency | LifeHealthPro

ac

well that's a relief!

 

[Arthur Rudnick]

I fail to see anything in this article that would lead me to believe that CLASS Act, or anything close to it is on the horizon.