Washington State Long Term Care Tax
Deduction will begin 1/1/22
You have options, but you must act quickly
Be informed...
Our District Leaders feel it is important to make sure our Employees are informed about the upcoming Washington State Long Term Care Tax, so we will be sending out some information over the next few days to help you understand, so you can make an informed decision. Here are a few highlight:
- This is a Mandatory .58 % tax on all of your earnings, with no cap
- Deductions will begin on 1/1/22
- No medical evaluation needed
- Benefits will pay out $100 Day, with a $36,500 lifetime benefit
- To Qualify for benefits, you must contribute to the fund:
- A total of 10 years, without interruption of 5 or more consecutive years, or
- Contribute 3 years within the last 6 years from the date you apply for benefits
- Must work at least 500 hours within each of the applicable years
- You must reside in Washington State to use the Long Term Care benefit
- If you wish to Opt Out of the tax:
- You can purchase a private Long Term Care plan of your own
- The private plan must be in place by 11/1/21
- Then you must apply with the Employment Security Dept for an exemption to the tax
Attached you will find a few documents. One will help compare the Tax vs a Private Policy. The other 2 documents start to explain some Private Policies that are available from Mutual of Omaha, offered through American Fidelity.
Follow the link below to the Employment Security Dept website if you would like more information about the Washington State Long Term Care Tax:
If you would like more information and set up a meeting with our American Fidelity Representative, Mike Brame, here is his contact information:
To set up an appointment to meet with Mike:
https://enroll.
If you need to contact him directly, his email address is:
mike.brame@americanfidelity.
You can also call or text him at:
509-727-2151.
