Disclaimer: With Medicaid, VA, and insurance regulations frequently changing, past blog posts may not be presently accurate or relevant. Please contact our office for information on current planning strategies, tips, and how-to's.
The House in Washington state has approved a proposal that would create an employee-funded program to help pay for future long-term care costs. In this proposal, a percentage of the individual employees wages would start being collected. Once they are in need of the funds for long-term care, they will be allowed to tap into the account.
This proposal is to help prevent family members from going broke when trying to pay for their loved ones care. Supports of the proposal worried about people being forced to go broke spending all their assets in order to receive Medicaid benefits for long-term care.