The House Energy and Commerce Health Subcommittee today held a hearing to examine the implementation and sustainability of the CLASS program.– During the hearing, Administration on Aging Assistant Secretary Kathy Greenlee admitted to Rep. Tim Murphy (R-PA) that funds from the CLASS program were double counted as both funding the program and contributing savings in the health care law. Watch the exchange here.
Murphy: So that money is also going to cover the health care bill as well as the CLASS Act?
Greenlee: That sounds accurate.
“If any insurance company began collecting premiums and then tried to spend $86 billion before paying out a single penny in benefits, it would rightly be prosecuted,” said Murphy. “Last time I checked, such Ponzi schemes are illegal in this country.”
“The CLASS program was included in last year’s health reform law seemingly as part of a budget gimmick to make Obamacare look less expensive than it really is,” said Subcommittee Chair Joe Pitts (R-PA). “In addition to providing more evidence of budget gimmicks within the health care law, this admission increases our concern regarding the sustainability of the CLASS program.”