CMS actuary pans CLASS

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Richard S. Foster, CMS actuary
Richard S. Foster, CMS actuary
Lawmakers and policy makers have ignored warnings about the sustainability of the CLASS Act, a government actuary said.

“Ignoring 200 years of actuarial principles has consequences,” said Richard S. Foster, chief actuary for the Center for Medicare & Medicaid Services, before the Society of Actuaries in June.

His comments were part of general criticism that his office's work is sometimes ignored, according to the Bureau of National Affairs.

The CLASS Act for the first time offers federal long-term care and disability insurance. Changes to it might include increasing earnings requirements for enrollees, indexing premiums for inflation and boosting anti-fraud protections, officials recently said.
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