Suspension of all asset-based LTC sales in Washington state
We have continued monitoring the risk environment created by the WA Cares Fund, and it is necessary to temporarily suspend sales of ALL OneAmerica® company products that meet the definition of long-term care in Washington state effective Aug. 14, 2021. In addition to Asset Care, communicated earlier this week, this suspension now includes Annuity Care, Annuity Care II, and Indexed Annuity Care.
New Business Submission Rules
- Beginning Aug. 14, 2021, all asset-based LTC applications in Washington will no longer be accepted.
- All eApp or paper applications must be received in the Home Office by close of business, 9:00 p.m. local time, Friday, Aug. 13, 2021.
Please note: Increased business volumes have delayed processing times on all WA cases. We cannot guarantee the current business in-house will be issued prior to the 11/1/2021 deadline for exemption from the WA Cares Fund.
To reiterate, OneAmerica is fully committed to the long-term care marketplace. We will communicate a future date for asset-based long-term care sales to resume in Washington to benefit our mutual clients.