Fri. Nov 22nd, 2024
LTC insurance: What is the long-term care tax in Washington state

Starting Oct. 1, residents can apply to opt out of the WA Cares Fund, a new long-term care insurance benefit for workers in Washington state.

The program, which will be funded by a mandatory payroll tax, will help pay for eligible long-term care-related expenses.

Beginning Jan. 1, every employee will pay 58 cents for every $100 they earn. So, if you make $75,000 a year, you'll pay $435 a year.

The program will initially pay out $36,500 in long-term care benefits starting in 2025.

Story: https://www.king5.com/article/news/local/washington-long-term-care-insurance-opt-out/281-bae6dbee-e934-4cdc-930f-e6ad05aeeae7

Related Post