SecureCare and the WA Cares Fund exemption

SecureCare likely qualifies for WA Cares Fund exemption

SecureCare likely qualifies for WA Cares Fund exemption

The state of Washington created the WA Cares FundSM to address the future long-term care (LTC) crisis. The fund provides an LTC benefit for all eligible workers, which will be funded by a payroll tax that begins in January 2022. Benefits will be paid in $100 stackable units, with a lifetime maximum of $36,500 (adjusted for inflation).

The benefit will be funded by a payroll tax that begins in January 2022.

However, Washington residents who have a personal LTC insurance policy issued before November 1, 2021 can apply for an exemption from the tax.

Our position is that the following Securian Financial products likely qualify for the exemption:

  • SecureCare Universal Life
  • Long-Term Care Agreement1
  • LTC Guard1

For more information about the WA Cares Fund and our position on it, please read the WA Cares Fund announcement bulletin.

View the bulletin

 

1. Products no longer sold – only in-force policies would likely qualify.
 


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Questions?
Please call our SecureCare Sales Support Team at 1-888-900-1962.
 
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