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| Economy |
| ObamaCare: Automatic Deduction from Paycheck for Long-term Care |
| 2010-03-28 |
| While Congress spent the last year debating how to provide health insurance for the uninsured, a little-known provision slipped into the heath care law that could cost some Americans upwards of $2,000 a year. The Class Act, otherwise known as the Community Living Assistance Services and Support Act, is the federal government's first long-term care insurance program. Under-reported and the under the radar of most lawmakers, the program will allow workers to have an average of roughly $150 or $240 a month, based on age and salary, automatically deducted from their paycheck to save for long-term care. The Congressional Budget Office expects the government will collect $109 billion in premiums by 2019. Supporters say the program will relieve pressure on Medicaid and should help keep us out of nursing homes by enabling Americans to save for something most will eventually need -- assistance in eating, bathing or dressing in their old age. |
| Posted by:Sherry |
| #9 I like the way the Eskimos did it better: When you're too far gone to change your own diapers they put you on an ice floe and set you adrift on the Arctic Ocean. |
| Posted by: Abu Uluque 2010-03-28 17:55 |
| #8 The way things are going, I imagine that people are going to are going to leaning heavier on the suicide option when things start going downhill. Maybe Obamacare will work out after all! |
| Posted by: gorb 2010-03-28 13:46 |
| #7 I've never been sure about the wisdom of having LTC insurance. I figure I'm old enough that I won't have to live with this cluster fvck being created for us. Silver linings are great. |
| Posted by: JohnQC 2010-03-28 10:49 |
| #6 I think that when Teddy died, he melted into a foul smelling pile of black goo, while screaming, "No! Gatekeeper! Give me more tiiiiime!" |
| Posted by: Anonymoose 2010-03-28 10:45 |
| #5 Ted Kennedy is still screwing us. Dig him up and throw a match on his gin riddled body. |
| Posted by: airandee 2010-03-28 08:10 |
| #4 And how long before this becomes mandatory? When people start using the long-term care coverage and the money isn't there because they've already spent it (see Social Security) and they will need current |
| Posted by: CrazyFool 2010-03-28 07:55 |
| #3 Gov't run "long-term" care? Wonder if they could bundle auto and homeowner's coverage into the Gov't long-term scheme and give us a volume discount? "My father was fond of saying you need three things in life - a good doctor, a forgiving priest, and a clever accountant. The first two, I've never had much use for." - Oskar Schindler |
| Posted by: Besoeker 2010-03-28 02:36 |
| #2 LG: you have just found the need for price fixing and strict regulation. now that the door has been kicked in, no telling what will come down the pipe |
| Posted by: abu do you love 2010-03-28 02:20 |
| #1 two big problems that I see 1. a lot of people take out long term care but then get sick and forget to pay for a few months and lose coverage 2. it is beyond laughable to assume $75/day (which is what the coverage will, per the article provide) will cover home health care in most urban areas of the country ($200/day is more typical) |
| Posted by: lord garth 2010-03-28 02:13 |