Health Care Reform, Insurance and Employee Benefits

Everything you need to know about health insurance

Sunday, February 5th, 2012

What is the CLASS Act?

Note: None of this should be taken as legal or tax advice.

In March 2010, the Patient Protection and Affordable Care Act (PPACA) was signed into law.  A portion of the law, titled the Community Living Assistance Services and Support (CLASS) Act, established a national program for individuals to voluntarily purchase long-term care insurance.  The program was to be effective January 1, 2011.

Who is eligible?
Working adults may make voluntary contributions directly or through their employer toward long-term care insurance premiums.

What are the benefits?
Benefits paid will depend on the degree of a covered individual's impairment.

How is CLASS financed?
CLASS is financed through monthly insurance premiums paid by individuals.  Benefits are paid through a trust fund of the premium payments and interest earned. 



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Posted by JD Cleary
Tags: health insurance, patient protection and affordable care act, PPACA, community living assistance services and support act, class, long-term care
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Clarifying Health is a blog about health insurance, health benefits, and everything else related to how Americans pay for medical expenses.

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We also run a company called Zane Benefits where we're doing everything we can to help America out of the current healthcare mess.

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