"Going, going, gone"

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Below are two long-term care insurance announcements I've seen this morning. Companies are working to prevent Washingtonians from opening tax-avoidance policies they suspect will be dropped.

Because the new state program is a bad deal for so many Washingtonians, and because Washington workers' only choice is to pay into the state's new long-term care program or obtain a private plan before Nov. 1, which is not really a choice, workers have made a mad rush on providers. 

Those who never wanted long-term care insurance to begin with, as they planned on using their assets or Medicaid to get through any possible long-term care needs in their futures, might discontinue a privately obtained plan once they receive the promised payroll-tax exemption from the state. 

Please feel free to add any announcements you have seen regarding long-term care sales in the comment section.

Thrivent Washington —

"SUSPENDED IMMEDIATELY: Thrivent long-term care sales in WA through independent agents/third party advisors"

The company explains, "As a leading long-term care insurance carrier, Thrivent has a responsibility to our contract holders and distribution partners to ensure that product offerings are being used in a manner consistent with their original intent to protect clients against the risk of long-term care expenses." 

Mutual of Omaha —

"Effective immediately, Mutual of Omaha is suspending long-term care sales in the state of Washington."

And, "As a leading long-term care insurance provider, Mutual of Omaha has a responsibility to our policyholders and distribution partners to ensure our product offerings are used as designed, offering security and peace of mind to our valued customers. 

"We anticipate resuming sales in Washington once again in November 2021. Thank you for your continued business, partnership and commitment to Mutual of Omaha. For any questions, please contact your Sales Director or Account Executive."

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