Washington State’s LTC Mandate Temporarily Reshaped Life Sales: MIB
February 22, 2023 by Allison Bell
Washington state’s effort to set up a public long-term care insurance program has shown U.S. life insurers just how enormous the long-term care planning market could be.
Washington state let consumers use private long-term care insurance policies and life insurance policies that offer LTC benefits to escape from a new public LTCI program payroll tax. Consumers could avoid the payroll tax if they bought a life-LTC hybrid policy by Nov. 1, 2021.
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