State-Sponsored, Publicly-Funded Long-Term Care (LTC) Programs
Ever since 2019, when Washington state passed legislation creating the WA Cares Fund, the long-term care industry has been monitoring legislative action by other states. Several states have created their own long-term care (LTC) task force to research potential options. However, at this time no other state has passed legislation that would create a new tax to support a state-mandated LTC program. Therefore, it is currently unknown if there will be any future tax exemption or opt-out requirements.
Nationwide is keeping a close eye on all developments across the state and federal level. Please be aware that Nationwide does not solicit LTC business for the purpose of state LTC tax exemptions.
We cannot guarantee that the policy purchased or rider purchased with the policy qualifies for any state LTC program opt-out or tax exemption that may be offered now or in the future.