Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

Lincoln National is no longer taking applications for the MoneyGuard policy after 5PM Eastern today.
Trader Joe
Posts: 2697
Joined: Fri Apr 25, 2014 6:38 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Trader Joe »

Exemption form/process?
Futureplanner
Posts: 18
Joined: Sat Sep 15, 2018 11:55 am

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Futureplanner »

Does anybody know if a $2,000/monthly benefit with a max benefit of $100k qualifies for the exemption?
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

Futureplanner wrote: Mon Sep 13, 2021 11:14 pm Does anybody know if a $2,000/monthly benefit with a max benefit of $100k qualifies for the exemption?
There is no minimum benefit required, it just has to meet the state definition of LTC
Trader Joe
Posts: 2697
Joined: Fri Apr 25, 2014 6:38 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Trader Joe »

Exemptions:

Need more info?
Visit our Learn More page to read our frequently asked questions, including specific questions about exemptions.

Email wacaresexemptions@esd.wa.gov and a member of our team at the Employment Security Department will follow up with you.

Call the Employment Security Department’s WA Cares representatives at the (833) 717-2273.

http://www.wacaresfund.wa.gov/private-insurance/
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

BruDude wrote: Mon Sep 13, 2021 11:20 pm
Futureplanner wrote: Mon Sep 13, 2021 11:14 pm Does anybody know if a $2,000/monthly benefit with a max benefit of $100k qualifies for the exemption?
There is no minimum benefit required, it just has to meet the state definition of LTC
I cannot believe how many people in WA state believe that there are minimum qualifications for the LTC to qualify for the exemption. I'm not sure this myth has persisted so long because it's clearly not in the law. A supposedly financially savvy guy I know of was recently telling a friend of mine that if his LTC policy didn't have certain features that he wouldn't qualify for the exemption.

I'm very thankful that my NYL policy was recently approved. $264/year is so low that I am likely to keep the policy for at least a few years or until I retire, whichever comes first, since Olympia seems likely to have to change the rules in order to keep this new program afloat.
The Sensible Steward
orsetto
Posts: 3
Joined: Tue Jul 20, 2021 8:22 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by orsetto »

Was anyone recently in underwriting with Nationwide for No-Lapse Guarantee UL II? They're saying that there was a glitch in their illustrator in July and actual rates are higher.

For Microsoft employees, there's a UL product with LTC rider through Trustmark. Rates are similar to State Farm.
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

orsetto wrote: Wed Sep 15, 2021 3:32 pm Was anyone recently in underwriting with Nationwide for No-Lapse Guarantee UL II? They're saying that there was a glitch in their illustrator in July and actual rates are higher.

For Microsoft employees, there's a UL product with LTC rider through Trustmark. Rates are similar to State Farm.
I've had a few approved, no glitch that I'm aware of but it's possible. If a signed illustration was submitted with the application they should probably honor it, but given the time crunch it's probably best to just accept whatever is offered at this point especially if it's a minor difference. The Nationwide policies are also being offered on a "take it or leave it" basis for approvals, no appeals for underwriting decisions. Some of mine have been in underwriting for almost 2 months already with no approval yet. Their phone line has a message saying they will not provide any updates for WA LTC apps except by email, and you can't ask about anything.
orsetto
Posts: 3
Joined: Tue Jul 20, 2021 8:22 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by orsetto »

BruDude wrote: Wed Sep 15, 2021 3:38 pm
orsetto wrote: Wed Sep 15, 2021 3:32 pm Was anyone recently in underwriting with Nationwide for No-Lapse Guarantee UL II? They're saying that there was a glitch in their illustrator in July and actual rates are higher.

For Microsoft employees, there's a UL product with LTC rider through Trustmark. Rates are similar to State Farm.
I've had a few approved, no glitch that I'm aware of but it's possible. If a signed illustration was submitted with the application they should probably honor it, but given the time crunch it's probably best to just accept whatever is offered at this point especially if it's a minor difference. The Nationwide policies are also being offered on a "take it or leave it" basis for approvals, no appeals for underwriting decisions. Some of mine have been in underwriting for almost 2 months already with no approval yet. Their phone line has a message saying they will not provide any updates for WA LTC apps except by email, and you can't ask about anything.
Yeah I thought they would honor it but it's just all sorts of problems communicating with them. They also didn't use the P+ rating like I asked (they said the Illustrator wouldn't let them..) so they need a new illustration for me to sign now after approval, with the new rates $100 more. They are also pushing the 4% benefit on the LTC rider very hard. Thought I read somewhere that they were not allowing independent agents sell this or else should have gone with you! I had agent friends in other states run illustrations for me and the 2% benefit numbers were close to what you shared so it's had to believe everyone was running the Illustrator with the wrong numbers.
Kookaburra
Posts: 2045
Joined: Thu Apr 02, 2020 11:14 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Kookaburra »

willthrill81 wrote: Mon Sep 13, 2021 11:48 pm
BruDude wrote: Mon Sep 13, 2021 11:20 pm
Futureplanner wrote: Mon Sep 13, 2021 11:14 pm Does anybody know if a $2,000/monthly benefit with a max benefit of $100k qualifies for the exemption?
There is no minimum benefit required, it just has to meet the state definition of LTC
I cannot believe how many people in WA state believe that there are minimum qualifications for the LTC to qualify for the exemption. I'm not sure this myth has persisted so long because it's clearly not in the law. A supposedly financially savvy guy I know of was recently telling a friend of mine that if his LTC policy didn't have certain features that he wouldn't qualify for the exemption.

I'm very thankful that my NYL policy was recently approved. $264/year is so low that I am likely to keep the policy for at least a few years or until I retire, whichever comes first, since Olympia seems likely to have to change the rules in order to keep this new program afloat.
I blame much of this on LTC insurance agents who aren’t shy about fear-mongering that a policy without (insert any variety of made-up minimum requirements) will not or may not qualify. Some even go so far as to say they will not sell you a “lesser” policy since they don’t want you to be upset at them when the exemption request is denied. These insurance salespeople certainly are earning their reputation.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

Kookaburra wrote: Wed Sep 15, 2021 10:58 pm
willthrill81 wrote: Mon Sep 13, 2021 11:48 pm
BruDude wrote: Mon Sep 13, 2021 11:20 pm
Futureplanner wrote: Mon Sep 13, 2021 11:14 pm Does anybody know if a $2,000/monthly benefit with a max benefit of $100k qualifies for the exemption?
There is no minimum benefit required, it just has to meet the state definition of LTC
I cannot believe how many people in WA state believe that there are minimum qualifications for the LTC to qualify for the exemption. I'm not sure this myth has persisted so long because it's clearly not in the law. A supposedly financially savvy guy I know of was recently telling a friend of mine that if his LTC policy didn't have certain features that he wouldn't qualify for the exemption.

I'm very thankful that my NYL policy was recently approved. $264/year is so low that I am likely to keep the policy for at least a few years or until I retire, whichever comes first, since Olympia seems likely to have to change the rules in order to keep this new program afloat.
I blame much of this on LTC insurance agents who aren’t shy about fear-mongering that a policy without (insert any variety of made-up minimum requirements) will not or may not qualify. Some even go so far as to say they will not sell you a “lesser” policy since they don’t want you to be upset at them when the exemption request is denied. These insurance salespeople certainly are earning their reputation.
I suspect that you're mostly correct. The LTCi industry's reputation as not working in their clients' best interests has, at least up until now, been well earned.
The Sensible Steward
RoyHobbs9
Posts: 41
Joined: Wed Jun 09, 2021 1:03 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by RoyHobbs9 »

orsetto wrote: Wed Sep 15, 2021 4:22 pm
BruDude wrote: Wed Sep 15, 2021 3:38 pm
orsetto wrote: Wed Sep 15, 2021 3:32 pm Was anyone recently in underwriting with Nationwide for No-Lapse Guarantee UL II? They're saying that there was a glitch in their illustrator in July and actual rates are higher.

For Microsoft employees, there's a UL product with LTC rider through Trustmark. Rates are similar to State Farm.
I've had a few approved, no glitch that I'm aware of but it's possible. If a signed illustration was submitted with the application they should probably honor it, but given the time crunch it's probably best to just accept whatever is offered at this point especially if it's a minor difference. The Nationwide policies are also being offered on a "take it or leave it" basis for approvals, no appeals for underwriting decisions. Some of mine have been in underwriting for almost 2 months already with no approval yet. Their phone line has a message saying they will not provide any updates for WA LTC apps except by email, and you can't ask about anything.
Yeah I thought they would honor it but it's just all sorts of problems communicating with them. They also didn't use the P+ rating like I asked (they said the Illustrator wouldn't let them..) so they need a new illustration for me to sign now after approval, with the new rates $100 more. They are also pushing the 4% benefit on the LTC rider very hard. Thought I read somewhere that they were not allowing independent agents sell this or else should have gone with you! I had agent friends in other states run illustrations for me and the 2% benefit numbers were close to what you shared so it's had to believe everyone was running the Illustrator with the wrong numbers.
I agree with BruDude. I've had several approved through Nationwide. The only "glitch" I can think of is the guaranteed % on the illustrator was updated a couple months back which required a revised illustration (for their No Lapse UL and IULs). Updates occur every 1 to 3 years with most carriers. Due to the amount of time processing is taking, the possibility of "aging up" during the underwriting process has increased (most carriers use your closest birthday instead of your actual age). With how buried Nationwide is, and with an email I received from them today, I wouldn't mess around due to that 11/1 deadline steamrolling our way. I have an aged case that is 99 days old today and several more in the 60s to 80s range.

I'm not aware of not being able to illustrate a P+ rating, but I know that many agents are trained to illustrate at a preferred or standard rating since it is a better conversation down the road if the proposed insured receives a better rating than a worse rating. It is strange that he wouldn't honor your request, but it could be an internal deal.

I only had 2 couples choose the 4%. They chose it, not me. They were also in their 50s, and actually looking for something that could eventually take a bite out the skyrocketing costs of LTC during their waning years. That's 4 people out of the 50+ cases I have with Nationwide. I allowed all of them to choose, and surprisingly, most chose the 3% option.
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

BruDude wrote: Thu Sep 16, 2021 2:00 pm My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
Only 13 underwriters? :shock:
The Sensible Steward
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

willthrill81 wrote: Thu Sep 16, 2021 2:41 pm
BruDude wrote: Thu Sep 16, 2021 2:00 pm My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
Only 13 underwriters? :shock:
That's just for Washington, they can't just ignore the other 49 states...they set up a whole team specifically for WA LTC cases.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

BruDude wrote: Thu Sep 16, 2021 2:43 pm
willthrill81 wrote: Thu Sep 16, 2021 2:41 pm
BruDude wrote: Thu Sep 16, 2021 2:00 pm My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
Only 13 underwriters? :shock:
That's just for Washington, they can't just ignore the other 49 states...they set up a whole team specifically for WA LTC cases.
Still, that's an insanely small team to review so many applications. It will be amazing if they can review and issue policies where appropriate in the next 6 weeks.
The Sensible Steward
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

willthrill81 wrote: Thu Sep 16, 2021 2:45 pm
BruDude wrote: Thu Sep 16, 2021 2:43 pm
willthrill81 wrote: Thu Sep 16, 2021 2:41 pm
BruDude wrote: Thu Sep 16, 2021 2:00 pm My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
Only 13 underwriters? :shock:
That's just for Washington, they can't just ignore the other 49 states...they set up a whole team specifically for WA LTC cases.
Still, that's an insanely small team to review so many applications. It will be amazing if they can review and issue policies where appropriate in the next 6 weeks.
I think that's actually 3-4x the size of their normal underwriting team for one region, let alone one state.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

BruDude wrote: Thu Sep 16, 2021 3:25 pm
willthrill81 wrote: Thu Sep 16, 2021 2:45 pm
BruDude wrote: Thu Sep 16, 2021 2:43 pm
willthrill81 wrote: Thu Sep 16, 2021 2:41 pm
BruDude wrote: Thu Sep 16, 2021 2:00 pm My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
Only 13 underwriters? :shock:
That's just for Washington, they can't just ignore the other 49 states...they set up a whole team specifically for WA LTC cases.
Still, that's an insanely small team to review so many applications. It will be amazing if they can review and issue policies where appropriate in the next 6 weeks.
I think that's actually 3-4x the size of their normal underwriting team for one region, let alone one state.
I'm sure, but this has got to be an unprecedented number of applications over so short a time frame.
The Sensible Steward
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

willthrill81 wrote: Thu Sep 16, 2021 3:26 pm
I'm sure, but this has got to be an unprecedented number of applications over so short a time frame.
Sure, but they also don't have the time or urgency to hire more underwriters just to sell a bunch of policies that may lapse in the near future anyway, most of which have fairly small premiums. Underwriters don't just grow on trees, it's a job that takes a lot of knowledge and experience to do properly. They moved some of the underwriters around from other teams which is causing a disruption on service to other policies/applications that are more profitable and likely to stay in force longer. It isn't Nationwide's fault that WA only gave people effectively a 3 month window to apply.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

BruDude wrote: Thu Sep 16, 2021 3:36 pm
willthrill81 wrote: Thu Sep 16, 2021 3:26 pm
I'm sure, but this has got to be an unprecedented number of applications over so short a time frame.
Sure, but they also don't have the time or urgency to hire more underwriters just to sell a bunch of policies that may lapse in the near future anyway, most of which have fairly small premiums. Underwriters don't just grow on trees, it's a job that takes a lot of knowledge and experience to do properly. They moved some of the underwriters around from other teams which is causing a disruption on service to other policies/applications that are more profitable and likely to stay in force longer. It isn't Nationwide's fault that WA only gave people effectively a 3 month window to apply.
Quite true.

Olympia created a real mess, one that's likely to last for many years (unless the courts intervene).
The Sensible Steward
intendi
Posts: 205
Joined: Sat Oct 17, 2020 10:16 am

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by intendi »

We're getting pretty close to Oct 1. I'm poking around on the Washington Cares Fund and Employment Security Department sites and still don't see any specific guidance on how to submit the application for exemption. Wondering if I'm missing something...
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

intendi wrote: Thu Sep 16, 2021 4:19 pm We're getting pretty close to Oct 1. I'm poking around on the Washington Cares Fund and Employment Security Department sites and still don't see any specific guidance on how to submit the application for exemption. Wondering if I'm missing something...
I don't believe it's been made public yet.
The Sensible Steward
RoyHobbs9
Posts: 41
Joined: Wed Jun 09, 2021 1:03 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by RoyHobbs9 »

BruDude wrote: Thu Sep 16, 2021 3:36 pm
willthrill81 wrote: Thu Sep 16, 2021 3:26 pm
I'm sure, but this has got to be an unprecedented number of applications over so short a time frame.
Sure, but they also don't have the time or urgency to hire more underwriters just to sell a bunch of policies that may lapse in the near future anyway, most of which have fairly small premiums. Underwriters don't just grow on trees, it's a job that takes a lot of knowledge and experience to do properly. They moved some of the underwriters around from other teams which is causing a disruption on service to other policies/applications that are more profitable and likely to stay in force longer. It isn't Nationwide's fault that WA only gave people effectively a 3 month window to apply.
Nationwide isn't the only one with a log jam. Transamerica is taking weeks to respond, and OneAmerica isn't much better. OneAmerica is scaring me at this point. Nationwide sent out an email Monday to (paraphrasing) "leave them alone on the inquiries and let them do their jobs." On top of all of that, APPS (3rd party medical examiner) has been hit with 16,000 exam requests. That is a lot of fluids. The clinic is doing 700 cases a day, and their mobile medics are doing 6am to 7pm, 7 days a week. This is absolutely insane, and may be a no win situation for a lot of our clients that thought they got their applications in in plenty of time.

Does anyone know if State Farm is still taking apps at this point? If they are, I think they are about to get a bunch of business.
jstorz
Posts: 78
Joined: Fri Sep 04, 2020 5:44 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by jstorz »

RoyHobbs9 wrote: Wed Sep 22, 2021 9:10 pm Transamerica is taking weeks to respond
Confirm. Applied in May and have heard nothing directly - large employer, not sponsored but "approved service group" or something to get modified guaranteed issue. The latest line is they are trying to have everybody without medical underwriting approved this week but I am extremely skeptical.

Really considering a backup option at this point. There is a guarantee issue combo LTC & life for roughly ~2x the cost of Transamerica LTC. Still less than I'd pay with the tax, and I'd end up cancelling at least one of them if they both came through.

I really feel for people who don't have employers helping them with options, at this point it is probably too late.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

The ESD web site says the following regarding applying for the exemption:
Exemption applications will be available starting Oct. 1, 2021. ESD can only accept exemption applications through Dec. 31, 2022.
So apparently they aren't making the application available until Oct. 1st.
The Sensible Steward
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

RoyHobbs9 wrote: Wed Sep 22, 2021 9:10 pm
BruDude wrote: Thu Sep 16, 2021 3:36 pm
willthrill81 wrote: Thu Sep 16, 2021 3:26 pm
I'm sure, but this has got to be an unprecedented number of applications over so short a time frame.
Sure, but they also don't have the time or urgency to hire more underwriters just to sell a bunch of policies that may lapse in the near future anyway, most of which have fairly small premiums. Underwriters don't just grow on trees, it's a job that takes a lot of knowledge and experience to do properly. They moved some of the underwriters around from other teams which is causing a disruption on service to other policies/applications that are more profitable and likely to stay in force longer. It isn't Nationwide's fault that WA only gave people effectively a 3 month window to apply.
Nationwide isn't the only one with a log jam. Transamerica is taking weeks to respond, and OneAmerica isn't much better. OneAmerica is scaring me at this point. Nationwide sent out an email Monday to (paraphrasing) "leave them alone on the inquiries and let them do their jobs." On top of all of that, APPS (3rd party medical examiner) has been hit with 16,000 exam requests. That is a lot of fluids. The clinic is doing 700 cases a day, and their mobile medics are doing 6am to 7pm, 7 days a week. This is absolutely insane, and may be a no win situation for a lot of our clients that thought they got their applications in in plenty of time.

Does anyone know if State Farm is still taking apps at this point? If they are, I think they are about to get a bunch of business.
Amazingly, Lincoln National approved three of my MoneyGuard applications within a week so at least they are on the ball, but it was a much more expensive last-resort option so their volume of business was probably a lot lower. I've had about half of my Nationwide cases approved, a couple with John Hancock have been done, and the others are still waiting. There is still time but it is definitely beginning to run short, especially for any cases where they're going to need medical records or an exam. All of my approvals for Nationwide were through automated underwriting. Even the approved policies have not been delivered yet after 1-2 weeks post-approval, so I don't know how all of these are going to get done and into people's hands to sign before November 1.
Whakamole
Posts: 1763
Joined: Wed Jan 13, 2016 8:59 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Whakamole »

BruDude wrote: Thu Sep 16, 2021 2:00 pm My agency told me today that Nationwide received over 12,500 applications for WA alone and currently has 13 underwriters reviewing about 300 cases a day. That is a hell of a lot of apps for one state, I can see why they are so backed up on everything.
Transamerica said that they're processing as many applications for WA now as they usually do in five years.
User avatar
CardinalRule
Posts: 1197
Joined: Sun Jan 15, 2017 10:01 am
Location: United States

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by CardinalRule »

I see a pending charge to my credit card for Transamerica (something like $170) and so presumably my application has been processed. I haven't seen any email or snail mail confirmation, though.
RoyHobbs9
Posts: 41
Joined: Wed Jun 09, 2021 1:03 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by RoyHobbs9 »

Answering my own question. . . State Farm is planning to stop taking WA applications within a week. Not sure about Farmers.
drk
Posts: 3927
Joined: Mon Jul 24, 2017 10:33 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by drk »

CardinalRule wrote: Thu Sep 23, 2021 12:15 am I see a pending charge to my credit card for Transamerica (something like $170) and so presumably my application has been processed. I haven't seen any email or snail mail confirmation, though.
I assume that's a re-authorization to confirm that the card is still open before they finalize the approval. Last month, I had a similar pending charge on my credit card from Transamerica, then a week later received two snail mail notices on the same day:

1. A letter explaining that my application was still in-process, but that they were going to charge my card for the whole year's premium rather than one month
2. An information packet detailing my newly-accepted policy

A few days later, my card was charged for the first month premium.
A useful razor: anyone asking about speculative strategies on Bogleheads.org has no business using them.
Impromptu
Posts: 406
Joined: Mon Nov 03, 2014 9:09 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Impromptu »

I am still waiting for approval for my Banker's Life Application back from early July.
I'll gladly pay you Tuesday for a hamburger today.
2cents2
Posts: 648
Joined: Sun Mar 02, 2014 10:31 am

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by 2cents2 »

I am not a WA resident, but I have been wondering about this:

"Your choice is permanent

If you apply and are approved for an exemption, you’ll be permanently disqualified from WA Cares. This means you may never re-enroll and you’ll be prohibited from getting WA Cares benefits, even if you need them.
"

http://www.wacaresfund.wa.gov/private-insurance/

This may be a stupid question, but does this (being approved for an exemption) also permanently disqualify you from medicaid as well? Or, should this be thought of as a state run LTCi which is an additional layer of coverage in addition to medicaid?
User avatar
truenyer
Posts: 406
Joined: Thu Oct 26, 2017 1:39 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by truenyer »

2cents2 wrote: Sun Sep 26, 2021 10:15 am I am not a WA resident, but I have been wondering about this:

"Your choice is permanent

If you apply and are approved for an exemption, you’ll be permanently disqualified from WA Cares. This means you may never re-enroll and you’ll be prohibited from getting WA Cares benefits, even if you need them.
"

http://www.wacaresfund.wa.gov/private-insurance/

This may be a stupid question, but does this (being approved for an exemption) also permanently disqualify you from medicaid as well? Or, should this be thought of as a state run LTCi which is an additional layer of coverage in addition to medicaid?
No they are completely separate programs.
User avatar
truenyer
Posts: 406
Joined: Thu Oct 26, 2017 1:39 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by truenyer »

Impromptu wrote: Sun Sep 26, 2021 8:02 am I am still waiting for approval for my Banker's Life Application back from early July.
My May application just got approved yesterday. Sit tight.
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

The NYL agent that I went through to buy my LTC policy just called me. He wants to do a brief Zoom meeting with me next week to review what I need to do in order to get the exemption from the WA state tax. He's not getting any sort of benefit from doing so, just being very helpful. I'm shocked in an extremely positive way! :D
The Sensible Steward
Marseille07
Posts: 16054
Joined: Fri Nov 06, 2020 12:41 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Marseille07 »

I applied at NYL late July and it appears my policy will be approved in October. Thank goodness. :beer
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

Marseille07 wrote: Tue Sep 28, 2021 9:35 am I applied at NYL late July and it appears my policy will be approved in October. Thank goodness. :beer
I certainly hope that it will be for your sake. :beer
The Sensible Steward
Marseille07
Posts: 16054
Joined: Fri Nov 06, 2020 12:41 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Marseille07 »

willthrill81 wrote: Tue Sep 28, 2021 9:47 am I certainly hope that it will be for your sake. :beer
The NYL rep who processed my application mentioned this, so I'm 99% certain it'll be issued. Like your rep, they seem to help us out filling out the opt-out form. I find it interesting because they shut the door for more applicants trying to join for the purpose of opting-out, but helping those who made it on time.
intendi
Posts: 205
Joined: Sat Oct 17, 2020 10:16 am

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by intendi »

https://www.opb.org/article/2021/08/30/ ... -care-tax/


"State lawmakers are also getting an earful from their constituents.

“My own cousin called me and she too was very frustrated [by] the lack of availability in the private market,” said Democratic state Rep. My-Linh Thai of Bellevue.

Thai said she supports the WA Cares program but sees opportunities to improve it in the next legislative session."
BruDude
Posts: 4203
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by BruDude »

intendi wrote: Tue Sep 28, 2021 3:43 pm https://www.opb.org/article/2021/08/30/ ... -care-tax/


"State lawmakers are also getting an earful from their constituents.

“My own cousin called me and she too was very frustrated [by] the lack of availability in the private market,” said Democratic state Rep. My-Linh Thai of Bellevue.

Thai said she supports the WA Cares program but sees opportunities to improve it in the next legislative session."
According to the Office of Insurance Commissioner (OIC), one unnamed company received 66,000 applications. By comparison, last year that same company sold just 8,000 long-term care policies.
Nuts. The article also says there's only 48,000 per year sold nationally. Meanwhile Nationwide got 13,000 apps and this unnamed company got 66,000 apps in 3 months from a single state.
czaj
Posts: 531
Joined: Sun Oct 04, 2015 4:01 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by czaj »

FYI: There is an Apply for an Exemption button/link that opens at 9 a.m. today on this site.
oakleyram
Posts: 10
Joined: Tue Jul 06, 2021 2:23 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by oakleyram »

Ok I submitted the application. Was pretty easy, made an account, uploaded photo of ID. They didn't ask for insurance documentation, I guess they have some way to look it up?
User avatar
willthrill81
Posts: 32250
Joined: Thu Jan 26, 2017 2:17 pm
Location: USA
Contact:

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by willthrill81 »

oakleyram wrote: Fri Oct 01, 2021 11:16 am Ok I submitted the application. Was pretty easy, made an account, uploaded photo of ID. They didn't ask for insurance documentation, I guess they have some way to look it up?
I believe that they can contact your insurer to verify coverage. But the key word there is 'can'. From what I've heard, the ESD does not have the resources to check on everyone's policy anytime soon. It could take them years to do so even if they attempt it.
The Sensible Steward
intendi
Posts: 205
Joined: Sat Oct 17, 2020 10:16 am

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by intendi »

Got the application in as well. I had my insurance info all ready and was wondering if I had missed the section to enter it. Went back in to check and the system is predictably down now.
Bmac
Posts: 519
Joined: Sun Mar 03, 2013 7:58 am
Location: Seattle

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Bmac »

I think everyone in WA is trying to apply for the exemption. I can't access the site. It seems to be getting overwhelmed. Anyone else having similar problems this morning?
czaj
Posts: 531
Joined: Sun Oct 04, 2015 4:01 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by czaj »

Bmac wrote: Fri Oct 01, 2021 11:33 am I think everyone in WA is trying to apply for the exemption. I can't access the site. It seems to be getting overwhelmed. Anyone else having similar problems this morning?
Yes, I am getting this error when trying to access the ESD login page.
We are trying to connect you to /esd/pfml/Common/SelectAccount, but that system is currently unresponsive. This could be a state network problem or an administrator has brought the system offline. Typically, this is temporary and resolved quickly.
simpletone
Posts: 79
Joined: Sat Oct 17, 2020 9:47 am

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by simpletone »

I was able to setup an account, and upload my ID. I was also not asked to upload a copy of my policy which I thought was strange. I sent a follow up email to the address listed on the site, to see if they would need a copy of my policy.
pasadena
Posts: 2336
Joined: Sat Jul 02, 2016 1:23 am
Location: PNW

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by pasadena »

Bmac wrote: Fri Oct 01, 2021 11:33 am I think everyone in WA is trying to apply for the exemption. I can't access the site. It seems to be getting overwhelmed. Anyone else having similar problems this morning?
Just keep trying and refreshing the page when you get the error. Took me a while to create the account and apply but it did work. F5 :)
Bmac
Posts: 519
Joined: Sun Mar 03, 2013 7:58 am
Location: Seattle

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by Bmac »

Well I've made it to the "Submit" page a couple of times (after multiple rounds of refreshing), but then the site basically crashes. Eventually I get this message:

"We're sorry for the inconvenience, but we were unable to process your request. This could be a temporary system issue; please try again.
If the issue persists, please contact us by email at paidleave@esd.wa.gov or by phone at 833-717-2273. Return to the HOME Page."

Oh well, maybe better luck later today...
czaj
Posts: 531
Joined: Sun Oct 04, 2015 4:01 pm

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Post by czaj »

The site now shows "Down for Maintenance"
Post Reply