Washington State Long Term Care Act


Three Opt-Out Options: 

             (least expensive option for most ages)

    2) Long-Term Care Insurance  Age 40+

             (minimum $175/mo for single or couple.  Excellent LTC Benefits)

    3) Fixed Annuity with LTC Rider:   Age 40+

             (easiest & fastest enrollment, most popular with higher incomes)  

Time is Running Out - New Employment Tax is Coming!

The Long-Term Care Trust Act goes into effect starting January 1st, 2022.  Mandatory program for all Washington residents working 500+ hours per year and who don’t hold a Long Term Care Insurance Policy

W-2 employees will pay a premium tax through payroll deductions (Tax is similar to State Medical Leave – Except much higher!  An initial premium rate will be 0.58% of the individual’s wages $50,000 income = $290 annual tax ($25/mo).  Wages will be taxed without limitation or capped amount, the more you earn the more you pay.


Sample of Tax Rates Deducted from Check Beginning 1-1-2022

(many experts believe this lifetime rate will eventually rise to well above 2%)

Picture of Tax Table

One-Time Opt Out Closes November 1st, 2021

Individuals who own their own “long-term care insurance” can apply for an exemption from the premium tax

Policy must by in force by November 1st, 2021 (underwriting can take 4-6 weeks).

Employee applies to state for exemption, submits certificate to employer (and any future employers)

Once enrolled in plan coverage must remain in force a minimum of 24 months to avoid $500 early termination fee.

Green Financial can help you enroll on plan that will allow you opt out.  If you miss the window you will pay tax the rest of your working career!


Schedule Appt to Enroll: Zoom, Phone or Online

Lots of options, lots of questions.  We make the process simple and easy, Use our online calendar to set up LTC enrollment appointment with any of our staff