Saturday, October 15, 2011
Obama administration won't be able to help with long-term care for now; CLASS is too expensive
The Obama administration has had to scrap its plans to include opportunities for long-term care insurance through its CLASS Act, according to a story Saturday by N.C. Aizenman, link here.
Again, the premiums were high enough to discourage healthier people from enrolling.
Some companies are selling “single premium” long term care policies, especially to younger seniors (under 70) who inherit estates; what’s not clear is the degree of medical pre-monitoring required to qualify for such policies. I don’t want to have to wear a Holter and be “watched” (and worse) to get one (see Sept. 3).