atlantic_pacific t1_j8jyuwg wrote on February 14, 2023 at 9:27 PM

Reply to comment by doktorhladnjak in What's the cheapest long-term care insurance that qualifies for the Washington state long-term care payroll tax exemption? by Franck_Dernoncourt

Was on webinar with an insurance employee who keeps track of this topic in the WA legislature and they said that lawmakers are currently aware of the loophole that people could have signed up for a private LTC policy, gotten the exemption, and then cancelled the policy. Lawmakers are aware of this and it seems very likely that they will plug the loophole in the future by requiring some sort of ongoing proof that you have an active policy.

jrhoffa t1_j8jzmjf wrote on February 14, 2023 at 9:32 PM

When, though?

doktorhladnjak t1_j8l3t0l wrote on February 15, 2023 at 2:28 AM

Probably once the program is struggling financially in a few years

Franck_Dernoncourt OP t1_j8k41s7 wrote on February 14, 2023 at 10:01 PM

> ongoing proof that you have an active policy.

Can one change one's LTC insurance and still be tax exempt? I'm guessing so but I couldn't see the info in the law.

explore509 t1_j8xw4ct wrote on February 17, 2023 at 7:01 PM

I have heard this from the legislature as well. They are working on a re-certification process to make sure people are keeping their private policies.