Jay Batman
DRSoundrels
5/28/2010
In another example of how the federal government doesn’t work for the average American, next year you will be approached by your employer about a new payroll deduction. The deduction, which funds long term care in the home, will cost anywhere from $146 to $240 a month depending on whose estimate you accept as valid. It’s all part of a hidden bill with the recently enacted healthcare reform law known as the CLASS (Community Living Assistance Services and Support) Act.
You’ll likely find that that the option is voluntary at first, but the reality is this: in a time where many of us have few dollars to spare, how many of us have an additional $146 to $240 a month to buy long term care insurance administered by the federal government? And how long will it be before this entitlement program, like so many others, becomes a mandate on workers as the government realizes that without full participation, it cannot possibly fund the existing pool of beneficiaries?
Here’s your reality: next year the federal government will inform your employer about their obligation to tell you about the program. You’ll likely be told that for the nominal fee of $146 to $240 a month, you’ll receive $75 a day worth of flex cash benefits to cover long term home based care after a five year vesting period. How many of you are likely to consent to a deduction of up to $240 a month? How many of you could realistically spare an additional $240 a month deducted from your paycheck to fund yet another government program which will likely go down the same road as countless other programs before it to insolvency or abuse?
Read the rest at DRScoundrels.
