U.S. Congress - H.R.5853 Fiscal Responsibility and Retirement Security Act
H.R.5853 - Fiscal Responsibility and Retirement Security Act
To amend title XXXII of the Public Health Service Act to require review and approval by law prior to collection of premiums under the CLASS program, to require notice to individuals prior to enrollment, and to require termination of the program in the event of actuarial unsoundness, and for other purposes. view all titles (2)
All Bill Titles
- Official: To amend title XXXII of the Public Health Service Act to require review and approval by law prior to collection of premiums under the CLASS program, to require notice to individuals prior to enrollment, and to require termination of the program in the event of actuarial unsoundness, and for other purposes. as introduced.
- Short: Fiscal Responsibility and Retirement Security Act as introduced.
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Official Summary
7/26/2010--Introduced.Fiscal Responsibility and Retirement Security Act - Amends the Public Health Service Act, as amended by the Patient Protection and Affordable Care Act, to require congressional approval of the designation by the Secretary of Health and Human Services (HHS) of a benefiOfficial Summary
7/26/2010--Introduced.Fiscal Responsibility and Retirement Security Act - Amends the Public Health Service Act, as amended by the Patient Protection and Affordable Care Act, to require congressional approval of the designation by the Secretary of Health and Human Services (HHS) of a benefit plan as the CLASS Independence Benefit Plan under the CLASS program (a national, voluntary insurance program for purchasing community living assistance services and supports). Sets forth procedures for such congressional approval by joint resolution. Prohibits an employer from enrolling an employee in the CLASS program without providing specified notice to the employee, which includes:(1) the significant risk of failure of such a program;
(2) information on deficits that the program is expected to run;
(3) a statement that there is no separate pool of money set aside to pay the CLASS program benefits; and
(4) an explanation of the immediate termination of the program if it is reported to be actuarially unsound. Prohibits premiums from being collected before the Secretary has promulgated the required regulations in final form. Terminates such program if the report by the Board of Trustees of the CLASS Independence Fund indicates that the Fund is projected to be actuarially unsound over the 75-year period beginning with the fiscal year in which such report is submitted. Establishes a refund process.
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Hell On Earth: More Red Tape for Small Business
I introduced the Fiscal Responsibility and Retirement Security Act (H.R. 5853) to ensure the program will not begin if it will fail. The bill would require the Medicare Actuary to report to Congress on the fiscal solvency of the ...
Maryland to Educate Consumers on LTC - Long Term Care - Life and ...
A Louisiana Republican is seeking cosponsors for H.R. 5853, a bill that could block implementation of the Patient Protection and Affordable Care Act long term care benefits program. Are Life Insurance-LTC Combos Really A Good Deal? ...
Rep. Charles W. Boustany Jr: The CLASS Act program fails to make ...
The Fiscal Responsibility and Retirement Security Act, H.R. 5853, would require the Medicare Actuary to report to Congress on the fiscal solvency of the administration's final plan and require Congress to vote before it may be ...
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