Partnership Long-Term Care Insurance: Lessons for CLASS Program Development.
(2012). Partnership Long-Term Care Insurance: Lessons for CLASS Program Development. Journal of Aging & Social Policy, 24, 2, pp.152-168.
Abstract
The Community Living Assistance Services and Supports (CLASS) Act was a voluntary public insurance strategy intended to help people pay for long-term care. CLASS was passed as part of health reform to overcome aspects of private long-term care insurance market failure but came under close scrutiny from both its supporters and its detractors. Experience with the long-term care insurance market and State Partnership Programs provide insights about how to make CLASS fiscally viable. A CLASS program that offered one set of options to cover front-end risk (e.g., 1 to 3 years) and another set to cover catastrophic risk (after a high deductible) could have been offered as an alternative to the basic CLASS "long and lean" benefit model with all enrollees joined into a single risk pool. This would have broadened the risk pool and lowered premium costs under the program (abstract from: http://www.tandfonline.com/doi/abs/10.1080/08959420.2012.659146).
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