zlacker

>>wallfl+(OP)
Delay, deny, defend --- this is the insurance industry's modus operandi.

Insurance is the only industry where customers are the enemy.

>>jqpabc+A3
I wrote a longer response but deleted it as it was just a personal anecdote. Suffice it to say I'll never buy LTC insurance or participate in any elder care such as "assisted living" or "nursing care." It's all (IMO) engineered to drain old people of their assets before they die. Providing care is nowhere on the list of motivations of anyone involved.

>>SoftTa+Un
Some states are forcing you to buy LTC insurance. I’ve heard Washington does this through some convoluted laws.

>>Silver+NI
It’s a stealth income tax. Most high income people saw through it and opted out by buying their own LTC (which isn’t indexed to income) and then canceling it once their exemption was recorded.

>>qwerpy+7Y
I don’t understand. How is it an income tax? It’s a requirement to get a particular kind of insurance right?

>>Silver+nC1
It's an income tax in all but name because your income is taxed a certain percentage in order to fund the benefit.

There was a brief window where you could get LTC insurance from any provider and use it to opt out of the tax. High income earners did that because it was cheaper than paying the tax and also because receiving the benefit required you to stay in WA. The opt-out window has since closed, and if you haven't opted out by now, you will forever pay that tax if you work in WA.

https://wacaresfund.wa.gov/how-it-works