WI SB684

Creates a new segregated account within Wisconsin's insurance security fund specifically for long-term care insurance, expanding the fund from 5 to 6 accounts

Establishes a formula for calculating long-term care insurance assessments by splitting the total assessment 50% to life insurers and 50% to disability insurers, based on each insurer's premium writings in the state

Creates a tax credit equal to 20% of long-term care insurance assessments paid, claimable over 5 years (the year following payment plus 4 subsequent years) beginning for taxable years after December 31, 2026

Makes the tax credit refundable for disability insurers but nonrefundable for all other claimants, with credits applicable against state income taxes, franchise taxes, and insurer license fees

Takes effect July 1, 2026, with the definition of long-term care insurance policy and the new account structure taking effect the day after publication