Obamacare is the gift that keeps on giving. Thanks go to Ted Kennedy for the “Class Act.” This layer of Obamacare comes under the official name, “The Community Living Assistance Services and Supports Act” (“CLASS Act”). Don’t you love the names they think up? Who could not love CLASS? If you want to thank Ted, it would have to be through prayer or a seance, of course.
They couldn’t get this thing through a Democratic Senate so they hid it in the Obamacare bill, otherwise known as The Patient Care & Certainly Not Affordable Act. Another one of those maneuvers our Founding Fathers would have balked at, but we just ignore it and go on our merry way.
The “Class Act” creates a government-run long term care insurance program that’s too costly to sustain, even Sebellius says so. We are bankrupt partly because of our unsustainable entitlement programs so what do you think we should do? Why add yet another one, of course.
Kathleen Sebellius, healthcare big spender, said it is “totally unsustainable” and “financially unsound.” She said the only way to solve the problems of the Class Act, without using their administrative authority to abolish it, would be through a taxpayer bailout, higher premiums, or by mandating worker participation. All three of those options will enrage many. Liberals are starting to back away from it.
In this Act, they try to use the same principle behind the whole of Obamacare (Ponzi Scheme) to provide nursing homes and other long term care options. They are not going to have any funding, however, because of the way it is set up. Healthy people who buy it are they ones who support the people using the services, but they won’t buy it because they will pay cheaper premiums using private insurance. The Class Act doesn’t give credits in the form of lower premiums to healthy people as the free market does.
So, who will they have in the program? Unhealthy and disabled people looking towards long term care. If they qualify as poor, their premium will be $5 monthly. Now, I ask you, people needing the most care are funded with $5 a month, and that made sense to someone?
There will be many poor people applying, leaving much higher premiums for anyone else, causing healthier people to steer clear. Like Obamacare in general, it’s a type of Ponzi Scheme where you need a constant influx of people who pay for those who do not. I can hear the words, “bailout” ringing in my ears.
The Washinton Post reported that Democratic Sen. Kent Conrad called it, “a Ponzi scheme of the first order, the kind of thing that Bernie Madoff would have been proud of.”
This thing couldn’t get passed by Congress so they stuffed it into the 2000 page Senate Health Bill. Joe Liebermann, on CBS’s “Face the Nations, said, “You probably have to take out the Class Act, which was a whole new entitlement program that will, in future years, put us further into deficit.”
Ted Kennedy, at the end of his life, wanted this included in the Healthcare bill and this is probably more a memorial than anything else.