Description: Remarks on long term care insurance for business owners and executives, including its role in financial planning and asset protection, the growth in likelihood that the coverage will be utilized, and tax incentives for employers.

Description: Presented at the Living to 100 Symposium, January 2011. The Community Living Assistance Services and Supports 'CLASS' Act’s designers and promoters envision the program as a noble plan to relieve the financial strain on Medicaid long-term care and enable disabled and elderly Americans to purchase more home care and suffer less nursing home institutionalization. This paper explains why CLASS, like private long-term care insurance, is doomed to failure unless and until the crowd-out effect of easy access to Medicaid LTC benefits is addressed.