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The passage of The Long-Term Care Trust Act, effective January 1, 2022, makes Washington the first state in the nation to create a publicly funded insurance program that will provide working residents of Washington an opportunity to vest into a basic level of LTC benefits. The program will be funded by Washington workers who will pay premium assessments (a tax) through payroll deductions. There is also a window of opportunity for residents who own “long-term care insurance” to apply for an exemption from the premium tax. This short time-frame to apply for the exemption spans from October 1, 2021 through December 31, 2021.
- WA LTSS Insurance
- Personal Assets
- Long Term Care Insurance
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