More Than Anyone Else, Who Needs The CLASS Act?

I'll be the first to raise my hand in response to this question. Prior to considering the Community Living Assistance Services and Supports Act (CLASS Act), the first of many health reforms which the government is working on and which was signed into law just last year by the President, I thought about purchasing a private long term care insurance policy.

At 69 and showing symptoms of hypertension and obesity, I was unfortunately told that I'll be paying a much higher annual premium. Why? Well, it appears I'll be requiring long term care (LTC) anytime soon.

Good thing I have not thought about retiring yet and I have only one reason for still working like a dog - I'm still without a long term care plan.

I've been reading a lot about the cost of long term care as of late and mind you, the value of LTC facilities here in my area is definitely much more than the much coveted Yamashita treasure which was buried in the Philippines.

There is a big percentage of us elders who wish to stay home even after an event subjects us to long term care. If I become disabled one day, I would personally prefer a home health aide to come into my home every day and assist me in my usual activities of daily living and, perhaps, I can also hire somebody to cook, clean the house, do my laundry and perform other household chores.

I learned that the CLASS Act covers both home care and community-based LTC plus it will also shoulder home modifications if deemed necessary for an individual's functional problems.

Thinking about my future and planning it seems so easy and doable until I stumbled upon the data of current long term care costs which was provided by leading LTC insurance providers. Looking at the huge figures made me wish that these are at stake in the lottery instead of being the current value of LTC services.

I can't believe that those who are currently receiving home care are spending approximately $155 a day for a home health aide's few hours of services. Those who require homemaker services are forking out $139 a day! These numbers do not include their daily expenses on food and other basic necessities yet.

I wonder how much I'll need when it's my turn to receive care 20 years from now, as LTC experts predicted cost of care will be four times more than what the public is enduring at present. I'll be 89 by then and I can only pray that I'll be able to manage my future health care expenses.

Hopefully, by the time I'm 76 I would be done paying the five-year annual premium of the Act as it won't be until 2013 before the public can apply for membership and start paying the premium. Even if I retire from my present job which I've been dedicated to for the past 30 years, I can secure a home-based job to avoid being disqualified from this health program. It is, after all, stipulated in the Act's guidelines that anybody aged 18 and older who is employed or self-employed is eligible to apply for membership.