To take advantage of this time sensitive opportunity, please follow the steps below.
Feel free to email us or call (631) 730-8262 with any questions.
Click here to view the WA LTC Bill
WA LTC Trust Act
Overview
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. As of this writing, it is currently unclear whether the insurance policy must have been in-force by the effective date of the legislation - July 28, 2019 - or whether a date as late as December 2022 will be applied.
Details
- Beginning January 1, 2022 each W-2 employee will pay a premium tax through payroll deduction.
- An initial premium rate will be 0.58% of the individual’s wages (or $0.58 for each $100 earned).
- Wages will be taxed without limitation or capped amount.
- There is an option for self-employed individuals to elect coverage and be part of the program.
- If qualified to be exempted from the payroll tax, the resident must apply during the short timeframe spanning from October 1, 2021 and December 31, 2022.
- Benefits for approved services will become available starting on January 1, 2025.
- Maximum lifetime benefits are $36,500 per person (adjusted annually) for vested individuals.
- An “eligible beneficiary” of the program is a qualified individual who: is age 18 years or older, o was not disabled before the age of 18, o meets the requirement for assistance with ADLs, and o has not exhausted their lifetime benefits.
- Benefits will not be available to individuals who: o have already permanently retired, thus are unable to vest into the program, o are not residing in Washington state when qualified to receive benefits - even if vested in the program.
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LICENSING
You must have completed the LTC training to sell. Do not proceed without completing the licensing courses. Applications can not be accepted without this certifcate.
| Course Name | Course Number | Training Firm | Course Credits |
|---|---|---|---|
| WA LTC Initial 8 Hour Course | 618989 | RegEd | 8 |
| WA LTC Refresher 4 Hour Course | 618770 | RegEd | 4 |
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UNDERWRITING
Click on the links below for the Underwriting Guidelines for additional info.
Got Underwriting questions? Email us
| Intelligent Underwriting Guide | Underwriting Requirements | Underwriting Q&A | App Process Client Guide | Intelligent Underwriting Client Guide |
Got Underwriting questions? Email us
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PROPOSALS
We have modeled the following income levels at a tax rate of .58 per $100. for various age brackets for Male/Female (age 35-50 in 5 yr increments)
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Product Knowledge
Click on the links below for aditional informtion.
Got questions? Email us
| 5-Minute Guide to Long-term Care | LTC Rider II Product Guide | LTC Rider II You're the One in Control | NLG UL II Client Guide |
Got questions? Email us