“Top 5 States for Long-Term Care Planning Increases,” by Allison Bell, ThinkAdvisor

Quote:

“Washington state triggered a rush to purchase stand-alone long-term care insurance and hybrid products that combine long-term care benefits with life insurance or annuities when it announced that it would impose a 0.58% payroll tax on workers who failed to have private LTC planning arrangements in place by Nov. 1, 2021. The number of Idaho and Oregon residents who bought LTC products in 2021 also soared, even though residents of those states faced no legal pressure to plan for long-term care costs.”

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

What this proves is that an immediate need to worry about LTC planning results in people taking personal responsibility instead of waiting until they need care and getting Medicaid. But there is a better way to achieve the same goal. Watch for our next paper titled “Long-Term Care: The Solution.”