More on CLASS – Federal long-term care plan
–Individuals may enroll in CLASS on a guaranteed issue basis. Only requirement is that they be working and at least 18 years of age. Premiums are based on entry age and are not adjusted upwards unless one opts out of the program for five or more years. Open enrollment to re-enter occurs once every two years.
–Employers may participate or not, and their employees would be automatically enrolled unless they opt out.
–Administration fees are limited to 3%.
–Benefits are triggered with cognitive impairment or the inability to perform two or three activities of daily living, including eating, dressing, bathing, toileting, continence, and transferring.