CLASS ACT BENEFITS
The CLASS Act is beneficial as an introductory program offering:
      • Ease of access for employees
      • Effort to reduce financial strain on Medicaid
      • Guarantee Issue
 
CLASS ACT DEFICIENCIES
The CLASS Act has several inadequacies, including:
      • A five year waiting period
      • Anticipated cash benefit of $50 per day
      • Less coverage compared to a private offering
      • No pool, resulting in volatile rates
      • Administration by the employer
      • One coverage option for all employees
 
PRIVATE LONG TERM CARE INSURANCE
Employers who supplement CLASS with a private long term care option can benefit from:
      • Increased coverage offering
      • Executive carve-outs
      • Cost-share opportunities for recruiting/retention
      •A triple tax benefit
 
BROKER BENEFITS
      • Generous commission opportunity
      • Critical portfolio diversification in a post-reform world
      • Insulates against competing brokers
      • Turnkey solution to a growing market
 
By taking a fact-based approach to decisions about long-term care insurance, everyone emerges a winner. Employees can have policies that provide realistic coverage; employers can have a powerful cost-effective tool for attracting, retaining and rewarding employees; and brokers can have one more option in their portfolio that gives employers the value-added service they are looking for.