03/25/2021
Attn: All Washington State Employees. Have you heard about the New Washington State Trust Act? This impacts you. As of January 2022 you will be automatically enrolled in a NEW state tax to contribute to the WA State Long Term Care Trust. You have a limited time to opt and I have options for you!
Why opt out?
1. Opt out period ends July 2021 - Act fast
2. State Trust is equivalent to .58% or .58 per $100
3. State benefits do not begin until 2025
4. State benefits are NOT transferable - you can not use them outside WA state
5. You must pay into the trust for 10 years or 3 of last 6 years to access benefits
6. The tax rate is not fix and subject to increase at any point
7. Percentage based tax means if you have a higher wage, receive bonuses, or a raise you will pay more
8. Once you begin paying into the tax, you are obligated to pay so long as you file a W2 in Washington State.
Read below for more details or call for consultation. We have money saving options. Our policies give you flexibility and greater benefits. No need to pay the state for coverage that doesn't compare.
