October 8 – A mandatory payroll tax to be financed
The insurance benefit, nicknamed the
The plan, enacted in 2019 by the Long Term Care Trust Act, will use a 0.58% payroll tax to pay up to a
The plan should save
The program has generated both anger and praise from advocacy groups and politicians. Advocates cite a rapidly aging population and high premiums in today’s private long-term care market, while critics have lambasted the plan as expensive, unnecessary and rigid in terms of eligibility and payment.
Here’s what you need to know about WA Cares.
When will the deduction start?
The new deduction begins
The benefit will not become available to eligible eligible persons until
Is it compulsory for everyone?
The fund applies to anyone who works for a company in
People can apply for an exemption if they can show they have other long-term care insurance underwritten by
To apply, go to: www.wacaresfund.wa.gov/apply-for-an-exemption/
At this time, there is no other option to opt out of the program. Once a person opt out, they are permanently excluded from coverage and benefits, even if the private insurer cancels their policy.
Who will be entitled to benefits?
To receive benefits, a person must have worked and contributed to the fund for at least 10 years, without a break of five years or more, or three years in the last six years at the time of claiming benefits with at least 500 hours worked. annually during these years.
People who meet these criteria will be able to access services from 2025 if the
The fund will not be available to federal government employees, including active duty military personnel, unless that military department is considered a
What can the fund be used for?
The list of approved services and supports is extensive and includes:
* Day services for adults
* Home Care
* Assisted living and retirement home services
* Care transition coordination
* Dementia care
* Adapted equipment
* Home security assessments
* Meals delivered to your home
* Respite for family caregivers
These services must be approved and registered through the
There is no option to cash out the contributions paid if the benefits are not used.
What if I move or retire soon?
Currently, funds can only be used in
People who retire before reaching the required number of years of contribution to the fund will not receive the benefit.
These points were raised by critics of the program, some who also said that the
Last month, a group of 23 senators from Washington – all but two were
How and why was this plan born?
In 2015, state lawmakers set out to explore whether it would be possible to make long-term care more affordable, either through a public program funded by payroll deduction or by strengthening the private long-term care insurance market.
The number of people aged 65 and over in the
Seven out of 10
Medicare does not cover long-term care and the average premium for private long-term care insurance can reach up to
You have questions about the
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