February 13, 2023 “It appears the Washington State Legislature will not be considering any new changes to the WA Cares Fund during its 2023 session. CLTC has learned that the Washington Legislature does not plan to consider any of the recommended changes during its current, 2023 session. Speculation is that state lawmakers do not want to make changes that could create confusion before the plan officially starts July 1, when the new state LTC payroll tax collections begin. If the Legislature does not act on recommended changes this year, any updates to the first state-run LTC insurance program in the
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“The second failed attempt at public insurance for long-term services and supports”
“The second failed attempt at public insurance for long-term services and supports,” by Mark J. Warshawsky, AEI Quote: “In short, we have another public LTSS insurance program that is deeply unpopular, poorly designed, unstable, insolvent ab initio, perhaps illegal, and, without major changes, failed. Does anyone want to try a third time, or should we instead focus on improving the mixed public-private system we currently have to be sustainable for federal and state government budgets and to encourage private resourcing of LTSS care needs?” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: AEI’s Mark Warshawsky
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Washington Long-Term Care Rider Available February 1, 2022
We are pleased to announce that effective February 1, 2022, Mutual of Omaha will once again accept Income Advantage and Life Protection Advantage IUL applications that include the Long-Term Care Rider in the state of Washington. Important information to know: Applications, illustrations and quoting software will be available beginning February 1, 2022. Thank you for your continued business, partnership and commitment to Mutual of Omaha. If you have any questions, please contact your Sales Director or Account Executive. Washington Long-Term Care Rider Available February 1, 2022 #goldencareagent #mutualofomaha #iul
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Industry News, Life Insurance, Mutual of Omaha (& Affiliates), and State LTC Programs.
Income Advantage IUL, indexed universal life, insurance, IUL, Life Protection Advantage IUL, mutual of omaha, Mutual of Omaha Insurance Company, omaha, United of Omaha, WA, Washington, Washington state, and Washingtonians.
Income Advantage IUL, indexed universal life, insurance, IUL, Life Protection Advantage IUL, mutual of omaha, Mutual of Omaha Insurance Company, omaha, United of Omaha, WA, Washington, Washington state, and Washingtonians.
“How Medicaid and Medicare Fit Into Planning for Long-Term Care”
“How Medicaid and Medicare Fit Into Planning for Long-Term Care,” by Harry S. Margolis, Next Avenue Quote: “Beginning this year, workers in Washington state must pay 58 cents of every $100 they earn into the Washington Cares Fund to help pay their long-term care costs in the future. Those with qualifying long-term care insurance can be eligible for an exemption. Beginning in 2025, those Washington residents who have paid in for at least three out of the prior six years, or for 10 years in total, will be able to withdraw up to $36,500 to pay for their costs of care.
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“With his signature, Inslee pauses WA Cares program for 18 months”
“With his signature, Inslee pauses WA Cares program for 18 months,” by Austin Jenkins, OPB Quote: “Gov. Jay Inslee on Thursday signed into law a bill that delays the start of the program until July 2023, giving lawmakers 18 months to make revisions to the program and reassess its long-term solvency. The new law, which goes into effect immediately, also provides refunds to any employees who saw their paycheck docked after the payroll tax to fund the program kicked-in on January 1. Additionally, the measure changes the eligibility requirements for WA Cares to allow people born before January 1, 1968 to
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Important Care Solutions product portfolio updates effective Feb. 1, 2022
Important Care Solutions Product Portfolio Updates We have two important updates regarding our Care Solutions Product Portfolio, both effective Feb. 1, 2022. Washington Asset Care and Annuity Care Sales Update We are pleased to announce that effective Feb. 1, 2022, OneAmerica® will resume sales of our Asset Care and Annuity Care product portfolios in the state of Washington. The products will return to active sale with all riders and features available. However, we will only accept Washington applications submitted through our eApplication process at this time. Please click here for more detailed information on submitting new business or re-opening a
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“What’s next for beleaguered WA long-term care program?”
“What’s next for beleaguered WA long-term care program?,” by Melissa Santos, Crosscut Quote: “Nina Valerio and her husband, Joseph Scott, thought they were planning ahead by buying private long-term care insurance more than two decades ago. The Seattle couple, both retired university professors, said they have paid their monthly premiums without fail. Yet now that Joe, 86, needs help paying for nursing care, they said their long-term care insurance company has repeatedly delayed or denied their requests for benefits.” LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform: So begins this relatively long update on
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“The irony of long-term care advocacy”
“The irony of long-term care advocacy,” by Stephen A. Moses, McKnight’s LTC News Quote: “Long-term care faces a world of hurt. The COVID pandemic worsened the profession’s chronic long-term problems including revenue shortfalls, caregiver shortages and wage pressures. Researchers, operators and policymakers ask ‘What should be done?’ … No wonder long-term care and senior housing face so many problems. With the goal of reducing individual risk, we ceded responsibility for planning, saving, insuring and funding senior care to the government, which is singularly incapable to do the job. No one cares more about personal well-being than the individual human being
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