The brief’s key findings are:
- Long-term care is the major uninsured expense for most retirees.
- CLASS is a new, voluntary, national program designed to:
- alleviate the need for families to impoverish themselves to qualify for Medicaid;
- reduce the burden of care on families; and
- offset a bias towards institutionalization.
- The primary challenge to CLASS is adverse selection – participation mainly by the less healthy.
- To avoid a death spiral of rising premiums and declining participation, major program changes are needed.