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An August 15 Los Angeles Times editorial supports the Community Living Assistance Services and Supports (CLASS) Act based on data from a SCAN Foundation/UCLA Center for Health Policy Research study showing that California's baby boomers are woefully underprepared for the cost long-term care.
Researchers asked 1,500 respondents over 40 about their ability to pay for health care, including long-term services and supports. Six in 10 expressed concern about covering these costs, and 66% said that with nursing home fees averaging $6,500 a month, they couldn't afford more than three months of care. More than 40% said they couldn't afford it for a single month.
According to the Times, these results "confirm the troubling findings of other surveys around the country. Americans remain in denial about the challenges they'll face in retirement." These statistics are especially significant given our country's rapidly aging population.
The writers then go on to discuss the CLASS and the program's value in the face of these statistics. "It's too early to give up on CLASS, as some lawmakers have proposed," they write. "The more Americans who carry long-term care insurance, the better. And if it's implemented the right way, CLASS can help."