To protect Americans from the costs of long-term health care for the elderly and disabled, President Obama’s health law established the Community Living Assistance Services and Supports Act (CLASS). Less than two years later, the Obama administration announced that CLASS could not operate without large and growing deficits, and the program was terminated. In its wake, the Commission on Long-Term Care — created by the fiscal cliff legislation — is charged with developing a new way to finance long-term care services and supports. The commission’s report is due in September 2013.
At this event, Mark Warshawsky, a well-known expert in retirement finance and a newly appointed commissioner, will explain the implications of another publicly funded long-term care insurance program. A panel will then debate whether another government program is the best way to ensure that families can afford to provide the necessary services for their aging loved ones.