October 14th, 2011 – Today the Obama administration announced that it was abandoning a new program to provide Americans with long-term care insurance.
Kathleen Sebelius, Secretary of Health and Human Services, said, “For 19 months, experts inside and outside government have examined how [the Department of Health and Human Services] might implement a financially sustainable, voluntary and self-financed long-term care insurance program under the law.”
This will not affect implementation of other parts of the sweeping PPACA healthcare law, including preparations for a major expansion of health insurance coverage starting in 2014, according to administration officials. The Patient Protection and Affordable Care Act (PPACA) was signed into law by President Obama in March of 2010.
