Long Term Care Coverage: An alternative to the Washington State Long Term Services & Supports Act

UPDATE ON PROGRAM IMPROVEMENTS - From www.wacaresfund.com

On January 27, Governor Inslee signed two bills passed by the Legislature making key improvements to WA Cares Fund. These reforms will address coverage gaps and delay program implementation by 18 months. Changes include:

• Workers near retirement (born before 1968) will be able to qualify for partial benefits on a pro-rated basis.
• Workers who live out of state and work in Washington, military spouses, workers on non-immigrant visas, and certain veterans with disabilities will be able to opt out of the program if they choose.
• Workers will begin contributing to the fund in July 2023. Employers will refund any premiums collected in 2022 so far.

The WA Cares Fund website is being updated to reflect these changes and you can join their mailing list to get notifications as more information becomes available. For details on the changes, you can read House Bill 1732 and House Bill 1733.

Did you purchase a policy during the open enrollment period? Please read this letter from PSEII President, Matt Gould.

Recommendations to current policy holders:
If you’re considering dropping your policy keep at least these things in mind:

  • The statute, unless changed, only allowed for exemptions to be authorized for plans purchased prior to 11/1/21.
  • If a new “opt out” period is allowed, all future applications will have some level of health screening and if your health changes may disqualify you
  • LTC plan premiums are based on age and could increase based on your age and other factors

If you purchased a Trustmark LTC policy, access your documents by registering for a Trustmark account here:  https://myvb.trustmarkbenefits.com/login . This may only work for those individuals who have received a confirmation email from Trustmark, if you have not, your application may still be being processed.

As always, please visit http://www.pseiibenefits.com/ltc.html for the latest LTC updates and additional information or email the brokers at LBG Advisors [email protected] or [email protected] .

Go to the WA Cares Fund Webpage
Visit www.pseiibenefits.com for LTC Opt-Out Information