Washington state’s 2019 passage of “The Long-Term Care Trust Act,” effective January 1, 2022, makes it the first state in the nation to provide eligible employees an opportunity to vest into a basic long term care insurance (LTCi) plan through payroll deductions. However, Washington residents may have an opportunity for an exemption from the payroll tax if they own an LTCi policy. What does all of this mean for you and your clients – and how much time do you have to help them plan for what’s ahead?
Join us as we help you navigate the details of what “The Long-Term Care Trust Act” is, who is included in the payroll tax, how affected employees could be impacted, and where your role as a financial professional fits into the conversation.
0321 SOLC21-10132-A Exp. 0322
