LeadingAge President and CEO Larry Minnix openly acknowledged Wednesday afternoon that the next two years could be tense and difficult for long-term care providers. He was just one of a handful of experts painting a grave outlook.
Although the full impact of Tuesday's dramatic election results will take some time to grasp, providers should not fear a repeal of the new health reform law any time soon. Experts pointed this out Wednesday during a panel discussion at the annual meeting of the American Association of Homes and Services for the Aging.
The Community Living Assistance Services and Supports (CLASS) Act, which appears in House and Senate healthcare reform legislation, could wind up adding tens of billions of dollars to the federal deficit, according to a Nov. 25 analysis from the Congressional Budget Office.
If you are confused about the financial implications of the highly publicized CLASS Act, you are not alone. If it's supposed to be solvent and actuarially sound over the long term, why is the program at some point expected to increase the deficit?
The House's passage of the CLASS Act clearly has offered momentum for the disability insurance program. Leaders of the American Association of Homes and Services for the Aging are convinced there is no stopping it now.
Barbara Manard, vice president of the American Association of Homes and Services for the Aging, Wednesday countered criticism that the CLASS Act would contribute to the federal deficit.