Posted by (American Life Insurance Guide 04/22 News) Washington State may become the first full implementation in the United StatesLong-term care insurance(Long Term Care) State.Both houses of Washington State passed this proposal (HB 1087), the final version of the long-term care bill is expected to be finally passed in the next few weeks.Washington Governor Jay Insley said he is ready to sign the bill into law.
The contents of the Washington State Universal Long-Term Care Act
Starting from January 2025, 1, if at least three of the "Activities of Daily Life (ADLs)" cannot be completed independently when you need help, such as bathing, dressing, eating, or in the process of medical supervision, you can use this A sum of money to reimburse (Reimburse) home care, home improvement (wheelchair ramps and transportation to the doctor) and other expenses, this money can also cover the cost of family meal delivery and the reimbursement of voluntary family caregivers.
The plan will pay participants a lifetime fee of US$36,500.Participants in the plan must work and pay this premium for at least 10 years, with no more than five interruptions, or no more than three interruptions in the past six years.Therefore, most existing retired generations are not eligible for the plan.
Long-term care insurance market data
According to the Washington State AARP report, 65% of state residents aged 70 and over need a certain level of help to complete an independent life.
Currently, only 7 to 8 million Americans have privateLong-term care insuranceLTC.Many Americans "think" that Medicare will cover the full cost of long-term care, but this is not the case.The public security part of the medical assistance program mainly protects low-income groups.
Social repercussions of this bill
Laurie Funds of the Tacoma Democrats is a supporter of the bill. He said: "This is a way to try to bring benefits to people, to get people out of poverty and to get all kinds of services they may need."
The Washington state bill passed in the House of Representatives with a 63-33 advantage, but the Senate bid was 26-22. Most Republicans opposed the plan.
Opponents call this an unnecessary violation of civil rights by the government and impose additional taxes on all employees across the board.Members of the Legislative Council rejected a referendum amendment that required voters to participate in weighing.
Columnist of American Life Insurance GuideHeatherCommented, "Most working people (employees) are middle-class families. Is this plan really a benefit provided by the government to middle-class families, or is the government directly putting its hands into the pockets of middle-class families? We also know that American society There is a shortfall in the safety pension fund. Does this count as the government forcibly using the money of today’s millennials to fill the black hole of retirement pension funds for the baby boomers?
Howard Gleckman, a non-partisan research institution and the City College think tank, said: "There is a lot of debate around this topic in the country, but Washington State is at least far ahead in terms of implementation (introduced a clear insurance plan)."
(American Life Insurance Guide Report)
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