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The Class Act, otherwise known as the Community Living Assistance Services and Support Act, is the federal government's first long-term care insurance program.
Under-reported and the under the radar of most lawmakers, the program will allow workers to have an average of roughly $150 or $240 a month, based on age and salary, automatically deducted from their paycheck to save for long-term care.
The Congressional Budget Office expects the government will collect $109 billion in premiums by 2019.
So this is going to cost each person another $1,800 to $2,880 per year. That's in addition to the 12-19% of their annual income the CBO estimates as the cost of the 30% co-pay Silver Plan.
Oh, that must be what conservative hero, Ronnie Raygun, was doing when reading his teleprompter:
Regan could not understand what he was reading, he was already getting senile. It was the chips they put into his head, or pockets.
Last edited by oldtimer2; 03-27-2010 at 09:42 AM..
Reason: spelling error
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