Massive new government program snuck into government health care bill with no debate
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. . . .
Democratic supporters say the provision, which was championed by the late Sen. Ted Kennedy, should not be controversial. . . .
Jeffrey Birnbaum warns:
Few people know about it, but experts agree that it could well explode the federal budget deficit down the road. . . .
The problem: The insurance plan, as currently constructed, can't possibly pay for itself over the long run and will blow a hole in the federal budget unless lawmakers somehow become more diligent than we generally expect them to be. . . .
North Dakota Sen. Kent Conrad, chairman of the Senate Budget Committee, has called the measure a Ponzi scheme. He and other moderate Democrats wrote a letter last year expressing their concerns about the long-term fiscal soundness of the proposal.
Ace reporter Jennifer Haberkorn of The Washington Times wrote an excellent front-page article about the dangers of the CLASS Act in November. But no one paid much attention. . . .
Nancy Pelosis and Barack Obamas words are ringing true: We will learn what is in the bill once it is passed. New long term care deduction on everyone's paycheck-$150-250 a month, unless you opt out.
Labels: governmentcontrol, healthcare
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