Navigation Links
Actuaries: Federal Long-Term Care Legislation Falls Short on Coverage Goals
Date:7/22/2009

WASHINGTON, July 22 /PRNewswire-USNewswire/ -- According to a recent analysis by a nonpartisan group of actuaries, the currently proposed benefit structure in the Community Living Assistance Services and Supports Act (CLASS Act) will require premiums that may exceed affordable levels for those in the intended population and is unlikely to achieve broad participation. The CLASS Act is included as a provision in the current version of the U.S. Senate Health, Education, Labor and Pensions Committee's Affordable Health Choices Act.

"Due to its design and the high level of required premiums, the program is unlikely to cover more than a very small proportion of the intended population," said Eric Stallard, the chairperson of the American Academy of Actuaries Federal Long-Term Care Task Force.

Stallard said he is encouraged that the legislation recognizes the need to develop actuarially sound premiums to ensure that the program is sustainable for at least 75 years, compared to a previous proposal that had set insufficient premiums and raised significant concerns regarding sustainability and solvency. He said that while actuaries commend the change, other considerations may need to be addressed to achieve a sustainable voluntary federal long-term care program that can accomplish its coverage goals. Among other considerations, the actuaries recommend enhancing participant opt-out/opt-in restrictions, drafting a precise "actively-at-work" definition, and developing an underwriting approach for the coverage of non-working spouses.

The analysis and additional considerations are detailed in a letter from the American Academy of Actuaries to Congress. The letter is available at:http://www.actuary.org/pdf/health/class_july09.pdf.

The analysis was performed by a joint work group of the American Academy of Actuaries Federal Long-Term Care Task Force and the Society of Actuaries Long-Term Care Insurance Section Council. For more information or to schedule an interview, please contact Andrew Simonelli, assistant director of communications for the American Academy of Actuaries, at 202.785.7872.

The American Academy of Actuaries is a 16,000-member professional association whose mission is to serve the public on behalf of the U.S. actuarial profession. The Academy assists public policymakers on all levels by providing leadership, objective expertise, and actuarial advice on risk and financial security issues. The Academy also sets qualification, practice, and professionalism standards for actuaries in the United States.


'/>"/>
SOURCE American Academy of Actuaries
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Actuaries: Priority on Health Reform and Retirement Security Signals Tough Choices Ahead
2. Actuaries: Addressing Health Spending Growth is Path to Sustainable Health Care System
3. Actuaries: Trustees Reports Warn of Looming Financial Challenges Facing Retirement Programs
4. Actuaries: Health Care Reform Must Address Costs
5. MDMA Names New Director of Federal Affairs
6. Federal research plan to determine nanotech risks fails to deliver
7. Federal Employee Program Maintains Low Health Premiums In 2008
8. AMERIGROUP Contracts with Federal Government to Offer Medicare Advantage Health Plans in Seven States
9. SNM applauds NAS study showing need to restore federal nuclear medicine research funding
10. ACM Helps Medicaid Programs Comply With Federal Deficit Reduction Act Mandates
11. Boise(R) BEWARE(TM) Meets New Federal Guidelines Set Forth by Medicaid
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... June 25, 2016 , ... ... non-athletes recover from injury. Recently, he has implemented orthobiologic procedures as a method ... —Johnson is one of the first doctors to perform the treatment. Orthobiologics are ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published June 14 ... The article goes on to state that individuals are now more comfortable seeking to ... operations such as calf and cheek reduction. The Los Angeles area medical group, Beverly ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... Marcy was in a crisis. Her son ... lash out at his family verbally and physically. , “When something upset him, he couldn’t ... would use it. He would throw rocks at my other children and say he was ...
(Date:6/24/2016)... ... June 24, 2016 , ... Dr. Amanda Cheng, an ... Dr. Cheng has extensive experience with all areas of orthodontics, including robotic Suresmile ... orthodontics. , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can ...
(Date:6/24/2016)... ... ... People across the U.S. are sharpening their pencils and honing their writing skills ... patients and their families pay tribute to a genetic counselor by nominating him or ... Counselors (NSGC) Annual Education Conference (AEC) this September. , In April, Genome magazine ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)...   Pulmatrix, Inc ., (NASDAQ: PULM ... announced today that it was added to the Russell ... comprehensive set of U.S. and global equity indexes on ... milestone for Pulmatrix," said Chief Executive Officer Robert ... progress in developing drugs for crucial unmet medical needs, ...
(Date:6/24/2016)... 2016  Arkis BioSciences, a leading innovator in ... durable cerebrospinal fluid treatments, today announced it has ... is led by Innova Memphis, followed by Angel ... investors.  Arkis, new financing will accelerate the commercialization ... release of its in-licensed Endexo® technology. ...
(Date:6/23/2016)... -- Research and Markets has announced the addition ... 2022" report to their offering. ... with kidney failure, it replaces the function of kidneys by ... and thus the treatment helps to keep the patient body,s ... Increasing number of ESRD patients & substantial healthcare ...
Breaking Medicine Technology: