“Which long-term-care insurance plans qualify for a payroll tax exemption?”

“Which long-term-care insurance plans qualify for a payroll tax exemption?,” by Elizabeth Hovde, Washington Policy Center

Quote:

“Many people are writing me wondering what kind of long-term care insurance plans qualify to receive an exemption from a state payroll tax starting in January. Here’s what the Washington state Office of the Insurance Commissioner said today in an advertisement of sorts for the state’s new long-term care program: ‘We cannot determine if a long-term care policy meets the exemption criteria for the WA Cares Fund. If you already have a long-term care policy and you want to find out if it qualifies you for an exemption, you should contact your insurer. This includes military veterans and people who have an out-of-state long-term care policy. When the exemption period starts on Oct. 1, the state Employment Security Department will review applications and determine if policies qualify.’ How not helpful. But it’s true, a private insurer is likely to be able to help you more than the state is — not only with the types of plans that qualify but with more promising long-term care coverage.”

 

 

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

Experts tell me the WA Cares Fund has effectively cut off all access to private LTC insurance. Washington citizens, workers and companies with workers in Washington are  trapped.