Medicare Actuary: Few Will Buy CLASS Long-Term Care Insurance

In a Nov. 13 report, Chief Medicare actuary Rick Foster estimates that the CLASS Act--the proposed national long-term care insurance program--faces "a significant risk of failure" because few would buy the coverage, and those who do would likely have high long-term care expenses. This phenomenon, called adverse selection, would drive up the cost of premiums and further discourage healthy people from buying coverage. The study will [...]