To qualify for long-term-care benefits, however, individuals would have to contribute monthly premiums through a voluntary payroll deduction for at least five years.
In the documents provided by Democratic HELP Committee staff, the CBO explained that the nearly $60 billion in savings would result from premium collections exceeding benefit payments from 2010 through 2019 under this program. That excess in premiums over benefit payments reflect the fact that while premium collections (would begin) in 2011, no one would be able to receive benefits until 2016 at the earliest, due to the bills vesting requirements, according to the estimate from CBO and the Joint Committee on Taxation.
Democratic staff members claim this vesting period was necessary to maintain the solvency of the program, while providing affordable premiums and other benefits.
Some GOP critics claim the language would actually cost $2 trillion over the next two decades and not save money.
The CBO score is deceptive, because for the first five years, they take in money but dont pay anything out. After five years is where they start paying out, and the budget numbers get worse from there forward, said a spokesman for Sen. Mike Enzi (R-Wyo.), the HELP panels ranking member.
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