Senator Bob Corker made the following statement regarding the announcement today that the Department of Health and Human Services is not able to implement a key provision of the president’s health care law. Secretary Kathleen Sebelius admitted in a report to Congress today that the CLASS Act, a voluntary government-run long-term care health insurance program, would not be financially sustainable as required by law.
Senator Corker said he has "warned from the beginning about the flawed accounting of the CLASS Act and is a cosponsor of bills to repeal it and the health care law."
He said, “There’s no way anybody could defend the accounting for this program with a straight face, so I'm glad the administration has finally put a stop to one of the worst schemes ever concocted to pay for health care. By taking in premiums for the first five years and paying out no benefits, the CLASS Act appears to reduce deficits in the first 10 years to help pay for the president's health care law, but then would significantly add to deficits over the next decade, eventually becoming another insolvent entitlement. We need to repeal this flawed program that even its architects admit won't work.”