1087-S2 AMS SHOR S4176.2
2SHB 1087 - S AMD TO HLTC COMM AMD (S-3352.1/19) 656
By Senator Short
On page 10, line 27, after "wages." insert "The employment security department shall set the premium rate at the lowest rate necessary to maintain the actuarial solvency of the long-term services and supports trust account created in section 10 of this act in accordance with recognized insurance principles and designed to attempt to limit fluctuations in the premium rate."
On page 10, line 27, after "The" insert "maximum"
On page 10, line 27, after "premium" insert "rate that may be imposed"
On page 10, line 28, after "wages." insert "The employment security department must adopt rules governing the method of premium rate calculation."
EFFECT: Requires premium rate to be set to maintain actuarial solvency of the LTSS account using insurance principles and designed to reduce rate fluctuations. Sets maximum premium rate at .58% of wages. Provides rule-making authority for premium rate setting.
--- END ---