Company-Sponsored Long-Term Care Plan

The passage of Long-Term Services and Supports (LTSS) Trust Act, effective January 1, 2022, makes Washington the first state in the nation to require that its working residents secure a long-term care plan. Washington residents can either participate in a publicly funded insurance program where they can vest into a basic level of long-term care (“LTC”) benefits, or they can opt-out and buy a private policy that best suits them.

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Alternative to WA Cares Fund

Learn how to offer a company-sponsored long-term care plan to enable employees to opt-out of the Washington State WA Cares Fund.

Thank you for your interest a company-sponsored long-term care program. We will reach out shortly.

We deliver a company-sponsored long-term care plan that allows Washington State employees to opt-out of the WA Cares Plan.

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Lower Cost + Higher Benefit

Acquiring your own insurance policy will be at a lower unit cost and provide higher LTC benefit amounts.

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Protect Retirement

Private coverage allows you to guarantee your costs and receive benefits anywhere in the world.

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Eliminate Payroll Tax

Securing private coverage allows you to opt-out and eliminate the new $0.58 per $100 in wages payroll tax.

CLOSED - Deadline Friday (08/06)

WA Cares Fund vs. Private Insurance

The state program delivers poor quality and a new payroll tax that will continue to increase as your wages grow ($0.58 per $100 of wages).

Implementation Steps

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Census & GI Offer

Finalize the plan participants; review premium costs for benefits; obtain guaranteed issue offer based on census.

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Enrollment

Online custom web portal for the company to roll out the sponsored plan for employees to enroll.

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Issue Policies

Issue an individual policy for each employee; electronic delivery of the policy; employee pays the premium.

Solution

Acquire a hybrid long-term care life insurance policy. Depending on age and income, employees can enjoy the following benefits:

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  • Significantly lower costs per unit of coverage

  • All premiums returned via a long-term care (LTC) claim or death benefit

  • Markedly higher quality benefits including indemnity definition for benefits versus the WA Cares Fund reimbursement provisions