Of course they would.  Benefits in the long term care plan know as the CLASS ACT plan would not start for 5 years, it automatically enrolls people and deducts money straight from their pay checks without their consent (you have to opt out), and they cannot use the government LTC for the first five years (don’t get sick).   However, the slippery politicians can use those first years of collected premiums to offset the enormous health care bill.  Smoke and mirrors is the change that we were promised it seems.  All that said, the government long term care plan will be about 50% more than private long term care insurance for the healthy people and provide less benefits.  No thanks.  The private long term care insurance will grow your benefits 5% compounded each year vs. the government plan is based on the CPI of around 2-3%.  Sophisticated investors are typically the type of people who buy long care insurance and will opt for private insurance because it will provide more benefits for less money.

This plan is another example of short sided thinking politicians who want to extract as many resources out of future generations as possible saddling our children with a lifetime of debt.  Common sense says that the unhealthy people who cannot qualify for private long term care coverage will opt for the government plan and since you have a pool of JUST unhealthy people in the group you’ll see an avalanche of claims that will just bankrupt another government program.  The government will offset this by simple printing more money and inflating our dollar and killing hope for our kid’s future.

Bottom line is the average American are wiser and not selfish like Washington those “do as I say, not as I do” politicians.  They know that if they want to ensure that their family is taken care of they must do it, not the government.  Every program that the government has created hemorrhages money: Postal Service, Medicare, Medicaid, etc., why?? Because it’s easier to spend someone else’s money than your own.  They have run those programs into the ground and leaving a huge burden to our country’s future.  If you’d like to learn more about getting non-government private long term care insurance please fill in the form below and we’ll shop the market for you and mail you the quotes.