“What You Need To Know About Washington State’s Public Long-Term Care Insurance Program,” by Howard Gleckman, Forbes

Quote: “The most notable fact about this law is that it is the first in the nation. The details are far less important than the politics.”

LTC Comment: When “the most notable fact” about a new government program is that “it is the first in the nation,” hold on to your wallets and pay attention to the fine print.

Quote: “Only Washington residents age 18 or older who have paid the payroll tax for either 10 years without interruption of five consecutive years, or three of the last six years, and who work at least 500 hours a year, are eligible.”

LTC Comment: What chance does this program have to survive long enough to pay its first benefits? The current intoxication with socialism will have long run its course by then and fiscal reality will prevail. Ask instead if Social Security and Medicare will survive.

Quote: “The work requirement effectively exempts from the program current retirees, children with disabilities, and adults with disabilities who work less than about 10 hours a week.”

LTC Comment: Hmm, kind of sounds like “cherry picking.”

Quote: “People are eligible for benefits once they need assistance with three or more daily activities. Washington State defines those activities more broadly than private long-term care insurance policies, whose benefits are triggered once someone needs help with just two of six ADLs.”

LTC Comment: Three ADL trigger!

Quote: “The tax/premium goes into a state trust fund. However, lawmakers cannot dip into the fund for other purposes without notifying participants.”

LTC Comment: Do you think “notifying participants” will stop Washington State politicians any more than it stopped the federal government from robbing Social Security and Medicare?

Quote: “[T]he Washington law is funded by a mandatory payroll tax that every employee (except those doing very part-time work) must pay.” 

LTC Comment: The essence of a free market is that voluntary exchanges occur when they benefit both parties. The essence of government is to compel exchanges citizens would not make voluntarily.