NAIFA President Robert Miller released the following statement on the House of Representatives’ vote last night to repeal the CLASS Act:
“The House of Representatives vote to repeal the CLASS Act is a good first step towards getting a bad law off the books and developing sustainable solutions to address Americans’ long-term care insurance needs. A program that would inevitably require a government or industry bailout or else would leave the people it was designed to help in the lurch is not a good program. Now, NAIFA urges the Senate and President to do their parts to complete the CLASS repeal.
“While the Class Act is not the right law, the long-term care problem is not going to go away. NAIFA encourages Congress and the executive branch to promote long-term care awareness. Also, NAIFA supports measures to encourage the offer of quality insurance products at people’s places of employment, such as allowing long-term care insurance to be included in employer-sponsored cafeteria plans and flexible spending arrangements.”