Senator Edward Kennedy, Congressmen Frank Pallone and John Dingell introduced S. 697/ H.R. 1721 on March 25th, 2009.
The CLASS act would help encourage personal responsibility and add incentives to individual savings for long term care. Currently there are 10 million adults in America that need long term services and supports. By the year 2020 that number will reach 15 million. Sixty percent of those adults are over the age of 65. The CLASS act is a national solution to the problem of financing long term care. Through the principle of pooled risk all workers would have the opportunity to participate in an automatic payroll deduction that would fund long term care if and when needed.
Based on a framework of independence, choice and empowerment, consumers who become functionally impaired would receive a cash benefit and determine how to use that benefit to best meet their needs. Learn more about the CLASS act.
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