WA Cares Fund

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The , also known as the Washington State Long-Term Services and Supports Trust Program, is a Long-term care insurance (LTCi) program for Washington State. It is funded by payroll deductions equal to 0.58% of W2 employees' wages.

Benefits

 * Starts Jan 1st, 2025.
 * $100 per day.
 * $36,500 maximum benefits.

Contribution requirements

 * At least ten years at any point in your life without a break of five or more years within those ten years, or
 * Three of the last six years at the time you apply for the benefit, and
 * At least 500 hours per year during those years.

Exemptions

 * Unemployed persons - if you don't work, you don't pay.
 * Self employed with 1099 only income - only W2 employees pay. Self employed persons can opt in.
 * Federal employees.
 * Collective Bargaining Agreements (CBAs) prior to 2018.
 * Persons who have LTCi before Nov 1st, 2021 can apply for a permanent exemption.

You can apply for an exemption at:

https://wacaresfund.wa.gov/apply-for-an-exemption/

Key dates

 * Employees have until Nov 1st, 2021 to purchase an active LTCi policy in order to opt-out.
 * The opt-out window runs from Nov 1st, 2021 through Dec 31st, 2022.
 * By law, beginning Jan 1st, 2022, employers are required to collect premiums via an uncapped 0.58% payroll deduction. The governor has directed ESD to pause collection of the payroll tax until July 1, 2023. Some employers may still collect the payroll tax even though the tax is not enforced by the state.

LTCi companies in Washington state

 * Bankers Life & Casualty
 * Federal Long-Term Care Insurance Program (for federal employees and retirees and their spouses)
 * Genworth (only if you buy directly from the home office, not offered through agents/brokers)
 * Knights of Columbus (for members of the fraternal organization)
 * LifeSecure (worksite only)
 * Mutual of Omaha
 * National Guardian Life
 * New York Life
 * Northwestern Mutual
 * Thrivent (fraternal organization, religious requirements)
 * Transamerica (worksite only)