The Hidden Trap in the New York Long Term Care Trust Act

In this episode, long-term care expert Scott A. Olson breaks down the proposed New York Long-Term Care Trust Act and the potential impact it could have on your paycheck. Modeled after a similar program in Washington State, this legislation would implement a mandatory payroll deduction for W-2 and self-employed workers to fund a state-run long-term care program. Olson warns viewers about a "hidden trap" in the current bill: a retroactive opt-out deadline that requires residents to own private insurance before the bill is even officially signed into law.Buy my book on Amazon: https://zurl.co/6YK23Listen to the podcast: https://zurl.co/dtGSKWatch our YouTube channel: https://zurl.co/0DvqQVisit our website to learn more: https://zurl.co/8BxY3Scott A. Olson, CLTC®, is co-founder of LTCShop.com and host of Long-Term Care Insurance Now. He has specialized exclusively in long-term care insurance since 1995 and is licensed nationwide. His National Producer Number (NPN) is 617232.Policy features, riders, and definitions mentioned in this article vary heavily by insurance carrier and state regulations. Partnership protections apply only to state-approved plans. Consult an LTCShop.com licensed specialist for specific carrier language.