A section of the Patient Protection and Affordable Care Act (PPACA) started out as a standalone bill with a better acronym. The CLASS Act was supposed to lower the cost of long-term care, but Shawn Tully explained to readers of Fortune in September 2009 that the CLASS Act would do just the opposite and collapse under its own weight. By the time the PPACA passed, premium projections had already risen to $123 a month from $65 a month.
A year later, the New York Times has finally gotten around to reporting HHS Secretary Kathleen Sebelius’ admission last week before Congress that the CLASS Act is ?totally unsustainable.?
Maybe the Times should change its masthead to “Everything others figured out long ago.”
