Tuesday, March 30, 2010

Little-Known Health Care Law Provision Is a Budget Buster, Critics Say

It appears that this is another tax like SS that creates a slush fund for the Democrats to spend to shore up their constituency. In the end, the only money left will be IOU's from the Federal government (you the taxpayer) and it will be bankrupt like Medicare and SS. Fool me once, fool me twice, fool me again and again and again. These politicians must go.

While Congress spent the last year debating how to provide health insurance for the uninsured, a little-known provision slipped into the heath care law that could cost some Americans upwards of $2,000 a year.

The Class Act, otherwise known as the Community Living Assistance Services and Support Act, is the federal government's first long-term care insurance program.

Under-reported and the under the radar of most lawmakers, the program will allow workers to have an average of roughly $150 or $240 a month, based on age and salary, automatically deducted from their paycheck to save for long-term care.

"This creates a whole new bureaucracy that is going to break this country," Nunes said. "In the early years there will be money in it, but at the end of the day there won't be enough money to cover the problems because there will be too many people in the program."

The statute says the program is designed to be self-sustaining, with an advisory board to assure the fund remains solvent. But opponents say the fine print already tells another story. Unless modifications are made, according to a CBO analysis of the bill, "the program will add to future federal budget deficits in a large and growing fashion."

Supporters and detractors admit much needs to be worked out, and eventually premiums will be based on how many Americans actually sign up for the insurance.
Read FOX News article here.

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