Minnesota Long-Term Care Legislation

We wanted to bring your attention to a long-term care topic working its way through the Minnesota legislature.  It mimics current legislation in place in the state of Washington and in serious consideration in California, New York and Pennsylvania.   States, which end up bearing a meaningful portion of the cost of elder care, are looking to set up new payroll taxes to assist in covering their costs.   The state of Washington is set to begin collection on July 1^st, 2023 of a 0.58% payroll tax on employees who do not have private long term care insurance, with no cap on the wage level.   The article link below gives a good overview of the issue around the country.   We’ll keep you apprised of the progress of legislation in Minnesota and beyond throughout the current session.

Read the full article on Minnesota Long-Term care legislation.