AnonymityIsForChumps t1_j8jylt5 wrote
The current law is a mess.
It will probably change. But if it doesn't, there is no policy that you can currently purchase that grants an exemption. To qualify for an exemption, you must have purchased the coverage prior to November 1, 2021.
However, the law also doesn't require you to maintain coverage, so technically you could cancel and keep your exemption. I think this part is one of the most likely to change, so I wouldn't do that until July at earliest (when payroll deductions start).
Just wait a few months before you change anything.
Franck_Dernoncourt OP t1_j8jz9ex wrote
Got it, thanks. Given the high price I'm paying currently for the LTC, I'd like to switch ASAP to some cheap insurance and just cancel it if the law change confirms one can drop it.
AnonymityIsForChumps t1_j8k55pj wrote
If the law changes, you might find yourself without a valid exemption, as you won't have a policy purchased before 2021. It's a gamble.
Franck_Dernoncourt OP t1_j8k6bzr wrote
Got it, thanks!
happytoparty t1_j8l7vf0 wrote
Technically true, however when you went to sign up for the exception you only needed to “affirm that you could provide proof” to receive the exception. I know a lot of people who did that and have that exception from the state of WA.
AnonymityIsForChumps t1_j8ll4l9 wrote
Yes this does work if you're comfortable commiting tax fraud. Although the odds anyone will ever be investigated for it is near zero.
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