Participation is mandated unless an employee opts out, which must happen before november 1, 2021. The state office of the insurance commissioner has a list of which insurance companies offer.
By benjamin cassidy august 17, 2021
Long term care insurance washington state opt out. 9:49 am pdt june 16, 2021. Workers with private ltc insurance will have the opportunity to opt out of the program by applying for an exemption. Be at least 18 years of age.
Allows employees to opt out of the program; 1 deadline to opt out of a. In order to opt out, your private ltc policy must be in effect no later than november 1, 2021.
Washington state recently passed a law to charge employees a payroll tax of 0.58% on their earnings. The move follows a frenzy of interest in the costly insurance policies prompted by a nov. Washington workers have until nov.
You must then submit an attestation that you purchased this policy to washington state’s employment security department between october 1, 2021, and december 31, 2022. Exemption applications will be available starting oct. But the best financial route for some locals may be to do nothing at all.
Submit an exemption application to the employment security department (esd). About washington’s long term care trust act On april 14, 2021, the house passed an amendment to the original bill (shb 1323), extending the deadline from july 24, 2021, to november 1, 2021.
November 1, 2021, is the deadline to avoid the new tax by purchasing a private long term care policy. Learn more about qualifying plans on the office of the insurance commissioner’s website.