Government Long Term Care Insurance, politics of the Class Act

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Back in the Obamacare battle of 2009 the democrats were pushing the health care reform bill but had little support because the bills was extremely expensive. The democrats knew that the bill was not budget neutral so they decided to plant a trick inside the bill or let’s call it a Trojan Horse. It was slipped in by the late Ted Kennedy and it was called the Class Act Long Term Care Insurance benefit.

The plan would provide a very minor benefit of $50/day of long term care insurance benefits but the premium would be three times what a private plan would charge. Also, no one could use their plan for the first five years yet they had to pay premiums day one. The slick politicians knew that the average voter could not follow their slight of hand so they counted those premiums from the long term care insurance benefit and put them towards the cost of the Obamacare bill in efforts to hide it’s real cost.

We all know the Obamacare bill was eventually rammed through the senate by reconciliation on Christmas Eve with just 51 votes. A couple years later after word got out that the Class Act long term care insurance bill was even in the bill it was taken out because the actuaries said it would not be sustainable and would soon have a financial death spiral.

This example of politics and insurance show why they two don’t mix. This government long term care insurance disaster just proves that if you truly want to protect your family you must do it yourself. This long term care insurance brokerage company called LTC Tree has a decent site and it looks like you can get long term care insurance quotes from the top few companies.

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