Long Term Care Insurance Dropped By Administration

The removal of the Act is the first to go out of Obama’s signature legislative achievement. The credibility of the program has been questioned since the day it was implemented. A number of Republican Party members have stated that the decision of the administration is evidence that the law is not sustainable. All presidential candidates were prepared to appeal against the enactment of the law.

The Department of Health and Human Services had previously closed down the office regulating the insurance program.

The decision has led to complications in the federal deficits planned reductions. Over the next 10 years there is supposed to be a reduction in the deficit of $86 billion. The Congressional Budget Office states that between 2012 and 2021 the healthcare law will reduce the deficit by $124 billion.

The Wall Street Journal Today made a statement that this step is a “belated realisation that Obama’s plans were not going to work”.

Eligible patients of the CLASS Act would have received payment of $50 each day for life. It would have been used to do things such as adapting the home to fit the needs of a wheelchair, or hiring a career. The plan would have been available to all employed Americans.

There was always an issue of how the plan was going to be financed. However this is no longer the case.