South By North Strategies, Ltd.

TaxVox points out that America still lacks a functional way of financing long-term care.

This combination of cuts and repeal of CLASS [Community Living Assistance Services and Supports] threatens to put millions of families in financial and physical jeopardy. Today, more than 40 percent of all long-term care is funded by Medicaid, the joint federal/state health program that is itself under tremendous financial stress. Only about 7 million Americans own long-term care insurance, which is both costly and often unavailable to those with pre-existing medical conditions.
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While CLASS is deeply flawed and needs to be reformed, it is an opportunity to transform long-term care from the means-tested Medicaid program to an insurance-based system. Since so few consumers are interested in buying existing private coverage, this could be designed as government-run insurance, or as private insurance sold under a government rubric, much like Medigap insurance or Medicare Part D drug coverage.
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Yet repealing CLASS would destroy that opportunity, and millions of Americans will no no choice but to turn to a shrinking Medicaid benefit in frail old age or in other times of disability. Currently more than 10 million Americans require long-term care services, either at home or in a nursing facility. By mid-century, twice as many will require this assistance.