ASK ALISON The Facts About Potential California Long-Term Care Legislation State-managed Long-Term Care (LTC) programs are a focus of many state legislatures, including California. In December 2022, California released the results of an LTC Task Force feasibility study and intends to release an actuarial study in January 2024. While no legislation has been introduced in California yet, employers and employees should be aware of its potential. Considering LTC as a voluntary benefit for employees can be an important value-add for employer-sponsored benefit packages. On Aug. 23, 2023, the California Department of Insurance (CA DOI) released a statement confirming that, as of the present time, the state has not implemented a new payroll tax to fund a state-mandated LongTerm Care program. Additionally, the CA DOI warns consumers that communications from third parties about the necessity to purchase an individual Long-Term Care policy in the immediate future to avoid a By Alison McCallum, EPIC Insurance Brokers and Consultants 29 California New Car Dealer Quarterly
RkJQdWJsaXNoZXIy MTg3NDExNQ==