Health-care reform remains a political flashpoint. Given the remaining Republican presidential candidates’ opposition to the law, it will be a prominent point of contention in the next election. Depending on the election’s outcome, the divergent views raise the possibility of modifications to the current legislation. The prospect of additional changes can be disconcerting for your senior clients, many of whom are still digesting the original reforms.
CLASS is out
Now that the government is out of the LTCI business, what impact will that have on sales?
The CLASS Act’s demise last October was a setback for the Obama administration’s health-care plans, but it wasn’t completely unexpected within the long-term care (LTC) industry. Malcolm Cheung, vice-president, long-term care, for Prudential Insurance, was part of a group from the American Academy of Actuaries that reviewed an early version of the act. "We had recognized as actuaries that there were some program design issues that would make the program itself very difficult to manage over the long term," Cheung said. "And, so, ultimately when the plug was pulled it certainly was not a surprise to me."
Senior Market Advisor recently asked John Greene, the National Association of Health Underwriters’ (NAHU) senior vice president of Congressional Affairs in Washington, D.C., about health-care reform and its impact on retirees.