Long Term Care Insurance Seattle WA Costs, Companies and Quotes
October 13, 2021
*** WE ARE NOT ACCEPTING QUOTE REQUESTS FOR WASHINGTON STATE ***
Washington State Long Term Care Trust Act
The Washington State Long-Term Care Program should have the attention of every Washington state employer and employee. This little-known law mandates a tax on employee’s wages, to pay for long-term care benefits for Washington residents.
The tax/premium collections will start January 1, 2022. Those who plan to retire in the next 10 years will have to pay premiums, but may never qualify for the benefit. An employee who attests they purchased Long Term Care Insurance before November 1, 2021, may apply for an exemption from the premium assessment under RCW 50B.04.080. The employment security department must accept applications for exemptions only from October 1, 2021, through December 31, 2022. This puts employees on notice that they have a very short window to buy long-term care insurance.
Click To Learn More About The Washington State Long-Term Care Trust Act.
Seattle Long Term Care Insurance Planning
High long term care costs make it smart to plan ahead for future long term care needs. Our LTC insurance agents will provide you with Long Term Care Insurance Seattlle WA quotes and planning information to help you decide if insurance is right for you.
The latest census numbers state about 787,000 people live in Seattle. This ranks Seattle as the largest city in the state of Washington and the Pacific Northwest. The Seattle–Tacoma–Bellevue, WA Metropolitan Statistical Area (MSA), with an estimated population of 3,798,902, is slightly more than half of Washington’s population.
The Seattle MSA is the 15th largest in the United States. Between 2010 and 2030 the number of older Americans will continue to grow as the “baby boomer” generation matures to age 65. The demographics of Seattle along with its high population put strong demand on its long term care system.
Who Needs Long Term Care?
Government statistics say about 70 percent of people over age 65 will need some type of long term care services during their lifetime. But this need for long term care does not only impact seniors. Forty percent of people currently receiving long term care services are ages 18 to 64. Consider that in 2010, nearly three-quarters of Seattle residents were adults between 18 and 64 years of age.
This can have a significant impact upon the family as almost one of every four U.S. households provides care to someone age 50 and older. Planning ahead for long term care is critical because even a slight decline in health can make it impossible to buy LTC insurance. Our long term care brokers in Seattle can tell you if your health history allows you to buy LTC insurance.
Long Term Care Costs in Seattle
Long term care costs are extremely high in Seattle at $393 per day for a private room in a nursing home in 2020. This makes the prospect of paying out of pocket for long term care costs in the Seattle area daunting for all but the very wealthy. Those who plan ahead with long term care insurance won’t have to worry about paying out of pocket.
And don’t make the mistake of planning on Medicare to pay for your long term care. Because, Medicare does not pay for most nursing facility and home health care. Medicare only pays to help short-term recovery after a hospitalization. The person must also be under a doctor’s supervision to get Medicare reimbursement.
Seattle Long Term Care Costs – 2020 (Annual)
Nursing Home (Private Room): $143,445
Nursing Home (Semi-Private Room): $127,484
Assisted Living (Private Room): $81,000
Home Health Aide (44 Hours/Week): $80,080
Washington Long Term Care Insurance Quotes
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Compare Washington’s Long Term Care Insurance Companies, Quotes and Policy Costs. We’ll help you compare the companies and plan options side by side. We also provide detailed comparisons to the AARP LTC insurance offering.
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We impartially shop the market of top-rated insurance companies and help you find not only the best rate, but the best company. We’ll supply you with rates, ratings, and reviews of the companies that sell these types of policies.