The Odessa Record -

By Elizabeth Hovde
Washington Policy Center 

Who gets to escape the LTC payroll tax

 

Last updated 9/22/2022 at 8:39am



Right now, the only people who can opt out of the WA Cares Fund, a new long-term-care (LTC) program that is supposed to be fueled by a payroll tax on workers, are those who had private long-term-care insurance (LTCI) purchased by Nov. 1, 2021. Their numbers are below.

Our 2019 study on the then-proposed law found that between 2022 and 2053, taxpayers would pay more than $30 billion for the state to realize net savings of just over $1.2 billion. We look forward to a new actuarial report that will be featured at a Nov. 10 Long-Term Services and Supports Trust Commission meeting for another l...



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