scottw
10-15-2011, 04:39 AM
this is shocking, the words "doubts over financial solvency" and taxpayer bailout associated with another democrat program(and this one isn't even implemented yet)...go figure?...note that the "central flaw" is that workers would be needed to "willingly" sign up to pay monthly premiums( which no doubt would be kept in a LOCK BOX) during their working years and then collect a benefit at the end and it would all go swimmingly..just like Social Security..if they'd only made it mandatory, then it would have worked:uhuh:
note to AP...who felt the need to point out that the "The Obama administration's signature health overhaul law,(is) under relentless assault by Republicans"...this thing failed on it's own merits...or lack of.......would that "assault" include pointing out "signature" bad ideas like this?
Health overhaul law suffers first major casualty
By RICARDO ALONSO-ZALDIVAR
Associated Press
WASHINGTON (AP) -- The Obama administration's signature health overhaul law, under relentless assault by Republicans, has suffered its first major casualty - a long-term care insurance plan.
The program, expected to launch in 2012, had been dogged from the beginning by doubts over its financial solvency.
Known as CLASS, the Community Living Assistance Services and Supports program was a long-standing priority of the late Sen. Edward M. Kennedy, D-Mass.
Although sponsored by the government, it was supposed to function as a self-sustaining voluntary insurance plan, open to working adults regardless of age or health. Workers would pay an affordable monthly premium during their careers and could collect a modest daily cash benefit of at least $50 if they became disabled later in life. The money could go for services at home or to help with nursing home bills.
But a central design flaw dogged CLASS. Unless large numbers of healthy people willingly sign up during their working years, soaring premiums driven by the needs of disabled beneficiaries would destabilize it, eventually requiring a taxpayer bailout.
After months insisting that could be fixed, Health and Human Services Secretary Kathleen Sebelius finally acknowledged Friday she doesn't see how.
"Despite our best analytical efforts, I do not see a viable path forward for CLASS implementation at this time," Sebelius said in a letter to congressional leaders.
note to AP...who felt the need to point out that the "The Obama administration's signature health overhaul law,(is) under relentless assault by Republicans"...this thing failed on it's own merits...or lack of.......would that "assault" include pointing out "signature" bad ideas like this?
Health overhaul law suffers first major casualty
By RICARDO ALONSO-ZALDIVAR
Associated Press
WASHINGTON (AP) -- The Obama administration's signature health overhaul law, under relentless assault by Republicans, has suffered its first major casualty - a long-term care insurance plan.
The program, expected to launch in 2012, had been dogged from the beginning by doubts over its financial solvency.
Known as CLASS, the Community Living Assistance Services and Supports program was a long-standing priority of the late Sen. Edward M. Kennedy, D-Mass.
Although sponsored by the government, it was supposed to function as a self-sustaining voluntary insurance plan, open to working adults regardless of age or health. Workers would pay an affordable monthly premium during their careers and could collect a modest daily cash benefit of at least $50 if they became disabled later in life. The money could go for services at home or to help with nursing home bills.
But a central design flaw dogged CLASS. Unless large numbers of healthy people willingly sign up during their working years, soaring premiums driven by the needs of disabled beneficiaries would destabilize it, eventually requiring a taxpayer bailout.
After months insisting that could be fixed, Health and Human Services Secretary Kathleen Sebelius finally acknowledged Friday she doesn't see how.
"Despite our best analytical efforts, I do not see a viable path forward for CLASS implementation at this time," Sebelius said in a letter to congressional leaders.