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A Clear Picture of the CLASS Program

Created on July 30, 2010

A Clear Picture of the CLASS Program

Headline:

A Clear Picture of the CLASS Program

 

Intro:

Participants in the CLASS program would pay premiums for five years before gaining eligibility to receive benefits. That is why both the CBO and the CMS project CLASS funds will rise dramatically for five years, then quickly decline, before facing budget deficits soon thereafter.

Sources: Douglas W. Elmendorf, Director, Congressional Budget Office, letter to Speaker of the House Nancy Pelosi, March 20, 2010, p. 18, Table 2, at http://www.cbo.gov/ftpdocs/113xx/doc11379/AmendReconProp.pdf (July 22, 2010), and Richard S. Foster, “Estimated Financial Effects of the ‘Patient Protection and Affordable Care Act,’” Centers for Medicare and Medicaid Services, Office of the Actuary, p. 2, at https://www.cms.gov/ActuarialStudies/Downloads/PPACA_2010-04-22.pdf(July 22, 2010).

Other text:

CMS and CBO projectCLASS will face deficits by 2025 and 2030, respectively CMS and CBO projectCLASS will face deficits by 2025 and 2030, respectively Congressional Budget Office Centers for Medicare and Medicaid Services Congressional Budget Office Centers for Medicare and Medicaid Services Effect of the CLASS Program on the Federal Budget, in Billions of Dollars Chart 1 • B 2444 heritage.org 2030 2025 2020 2015 2011 $12 $10 $8 $6 $4 $2 $0