What you need to know about Washington's new long-term care benefit, and the tax that comes with it
Starting Oct. 1, Washington workers can begin seeking exemptions to the state’s new long-term care tax.
The tax finances the so-called “WA Cares Fund,” a program the state Legislature established in 2019. The program acts as a state-provided insurance plan for long-term care. It is meant to help eligible adults pay for services such as home-delivered meals and dementia support.
The state will begin taxing employees on January 1, 2022. The tax is 0.58% of a worker’s total wages, with no salary cap. That means an employee earning $100,000 will pay $580 into the fund.
But there are exemptions. Adults who purchase private long-term care insurance before Nov. 1 will not be subject to the tax. Employers are also exempt.
https://www.seattlepi.com/local/seattlenews/article/Washington-state-long-term-care-tax-16468602.php