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Actuary: The CLASS Act is Feasible

Published On: Oct 24, 2011

At an Oct. 17 briefing during the LeadingAge annual meeting, members were treated to an in-depth briefing from Robert Yee, FSA, MMA, the actuary formerly charged with analyzing the Community Living Assistance Services and Supports (CLASS) Act for the Administration on Aging. Mr. Yee outlined the work done by the CLASS office to create the long-term services and supports insurance program.

Connie Garner, executive director of Advance CLASS, Inc., and former policy director for disability and special populations to the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP) Committee, then gave an analysis of the legislative history of the CLASS Act.

The briefing was extremely timely, as the Obama administration announced on Oct. 14 that it was suspending work on developing the CLASS insurance program. The message delivered by Mr. Yee, on the other hand, was that the program can be actuarially sound and there is much work to be done.

We and other members of Advance CLASS have been meeting with representatives from the administration and with members of Congress to urge continuation of work on CLASS.

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