Is Your Business Ready For The CLASS Act?

Is Your Business Ready For The CLASS Act?

Ted Kennedy

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Many companies seem conflicted by a key part of the recent Health Reform legislation, the CLASS Act, which will offer a form of long term care insurance for working people who may become disabled. “CLASS” stands for Community Living Assistance Services and Supports, and the program, a legacy of the late Senator Edward Kennedy, is intended to offer new choice and security for millions now at risk. But, “We find that those who manage employees or employee benefits don’t know how to react,” says Janet Washburn, The Long Term Care Lady℠, a Partner at LTC Financial Partners, LLC (LTCFP) one of the nation’s most experienced long term care insurance agencies. “That includes corporate executives, human resource managers and small business owners. Most seem at a loss right now, waiting for clarification.”

“On one hand,” says Washburn, “many business managers hope the CLASS Act can take care of their employees’ long term care insurance needs. On the other hand, they’re not sure. They wonder if private LTC insurance may be better in their particular situation — for the firm’s bottom line as well as their people’s future. They’re conflicted and stymied.”

To help clarify the matter, Washburn’s organization provides a FREE publication titled “Long Term Care Insurance at the Worksite, which includes a special report on the 2010 Long Term Care Guide with Healthcare Reform.  The special report offers a comparison of private long term care insurance versus the public option specified in the CLASS Act. “We think it will answer the top questions on business people’s minds,” says Washburn. These questions include:

  • The public plan requires employees to pay premiums for 5 years before becoming eligible for benefits. How does this compare with private LTC insurance?
  • How much are long term care services likely to cost when my employees need them; and will the public plan pay enough benefits to cover all those costs?
  • If we advise our employees to consider private LTC protection now, could they later decide to enroll in the public plan as well, for extended benefits? (The CLASS Act is not expected to be implemented until 2012 or 2013.)

Such questions cry out for answers now, Washburn asserts. “Should a particular company set up a system to automatically enroll their people in the public plan, with payroll deductions, unless they opt out? And if so, what guidance should the organization provide? And what private LTC alternative should they offer?”

The guidebook is available FREE to executives, human resource managers, and business owners. It may be requested from Washburn at (800) LTC-9022 or visit Washburn’s corporate website at either  janetwashburn. or

Also available FREE to business and associations is LTCFP’s comprehensive national program called the Long Term Care Outreach and Education Program (or LTCOEP™), now being implemented at major organizations throughout the county. This program is designed to educate employees and association members on the critical need to plan for long term care and how to secure sound, affordable protection.  LTCOEP™ was developed and branded by LTC Financial Partners in response to our experience with hundreds of thousands of employees and members in various settings throughout the country. Employees and members were offered LTC insurance as part of voluntary benefit enrollment programsLTCOEP™ is a turnkey solution that communicates the benefits of planning for long term healthcare needs. The program utilizes live and published support tailored for each distinctive worksite or association. Call TODAY to find out about a FREE LTCOEP program with your association or business at (239) 404-7590 or email Janet Washburn at:

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