OIC urges caution with long-term care policy changes

With Gov. Inslee’s signature on legislation to modify and delay the WA Cares Fund long-term care program, some consumers may reconsider their decision to buy long-term care insurance on the private market. While we always encourage consumers to consider their options and evaluate their insurance needs, we also encourage people to weigh all of the pertinent factors when making such decisions.

If you determined last October or November that a long-term care policy was the right for you, we urge you to consider the reasons you bought it before you cancel the policy — the temporary delay of the WA Cares Fund requirement is only one factor in that decision.

You can find more information about long-term care insurance options, including our long-term care options workbook or our consumer’s guide to buying long-term care insurance, on our website.

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WA State Office of the Insurance Commissioner

WA State Office of the Insurance Commissioner

Washington state Insurance Commissioner Mike Kreidler regulates the insurance industry and protects insurance consumers.