Beginning in January 2022, workers in Washington will contribute 58 cents per 100 dollars of earnings. Then in January 2025, everyone who qualifies will be eligible for up to $36,500 (adjusted to inflation) in long term care support.

Beginning in January 2022, workers in Washington will contribute 58 cents per 100 dollars of earnings. Then in January 2025, everyone who qualifies will be eligible for up to $36,500 (adjusted to inflation) in long term care support.

A better plan for Washington, that takes the burden off those we love

Pay into the WA Cares Fund when you’re working, save when you’re not, and access care when you need it

Most of us will pay for long term care, either for ourselves or for someone we love. The choice we have is whether to pay for it suddenly in a daunting lump sum, or a little at a time when we can afford it.

The situation will be different for everyone: you break your leg hiking and live alone with no one to help you recover. Your spouse has dementia and needs someone to look after their meals and care while you’re at work. Your diabetes and high blood pressure get worse, impacting your eyesight so you can no longer cook, bathe or move around safely. Your options right now are to risk paying (or relying on a family member to pay) for long term care out of savings or a reverse mortgage, or manage that risk by paying high premiums for private long term care insurance. Starting next year, Washingtonians will have a third option: the WA Cares Fund.

“The WA Cares Fund gives Washingtonians the opportunity to age with dignity and independence. It allows us all to put a care plan in place without quitting jobs, going into debt or putting a burden on our families,” says Ben Veghte, director of WA Cares Fund for the Washington State Department of Social and Health Services.

“Private long term care insurance is unaffordable for most people. Paying annual premiums when you’re working is hard enough, but the real problem comes when you’re retired and on a fixed income. You owe premiums until you need care, which means you can be paying into your 80s. Many people are also over-insured, and never end up using the full value of their policy,” says Ben Veghte, director of WA Cares Fund for the Washington State Department of Social and Health Services.

“Private long term care insurance is unaffordable for most people. Paying annual premiums when you’re working is hard enough, but the real problem comes when you’re retired and on a fixed income. You owe premiums until you need care, which means you can be paying into your 80s. Many people are also over-insured, and never end up using the full value of their policy,” says Ben Veghte, director of WA Cares Fund for the Washington State Department of Social and Health Services.

Beginning in January 2022, workers in Washington will contribute 58 cents per 100 dollars of earnings. Then in January 2025, everyone who qualifies will be eligible for up to $36,500 (adjusted to inflation) in long term care support.

“Private long term care insurance is unaffordable for most people. Paying annual premiums when you’re working is hard enough, but the real problem comes when you’re retired and on a fixed income. You owe premiums until you need care, which means you can be paying into your 80s. Many people are also over-insured, and never end up using the full value of their policy,” Veghte says.

Benefits of the WA Cares Fund

  • Convenient. Just a few dollars from your paycheck and it’s automatically deducted. Stays with you even between jobs.
  • Fair. Women pay the same rates as men, and care covers pre-existing conditions like cancer, diabetes, MS, and high blood pressure.
  • Flexible. Stay home, or go wherever is best for you, to receive help how and when you need it. You can even use the WA Cares Fund to receive paid care from family members
  • Affordable. No premiums when you retire, or are between jobs.

“I’ve heard stories from people who faithfully paid for long term care insurance but lost coverage when they could not continue paying when premiums increased. Consumers need to be aware,” says Cathy McCaul with AARP Washington. “If you miss a premium payment, change jobs, or have a change in health status, your policy could be terminated. The WA Cares Fund acts as a safety net, and unlike private insurance, you stop paying into WA Cares when you stop working.”

Learn more at WALongTermCareOptions.info.




Talk to us

Please share your story tips by emailing editor@rentonreporter.com.

To share your opinion for publication, submit a letter through our website https://www.rentonreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

The news and editorial staff of Sound Publishing, Inc. had no role in the preparation of this post. The views and opinions expressed in this sponsored post are those of the advertiser and do not reflect those of Sound Publishing, Inc.

Sound Publishing, Inc. does not accept liability for any loss or damages caused by the use of any products, nor do we endorse any products posted in our Marketplace.

More in Local Marketplace

m
Ikaria Lean Belly Juice Reviews (Honest Customer Warning!) Urgent Report!

When you ignore your weight gain for too long, it tends to… Continue reading

1
PhenQ Reviews: Negative Side Effect Complaints to Worry About?

In recent years, many people around the world have been looking for… Continue reading

qq
Exipure Reviews: Effective Ingredients to Lose Weight?

Everyone is busy in their own lives and is fixated on their… Continue reading

Dermatologist Dr. Melinda Liu is accepting new patients at PacMed Renton and PacMed First Hill. To make an appointment, call 1-888-472-2633 or visit pacificmedicalcenters.org.
More than skin deep! How to prevent and identify melanoma

The body’s largest organ needs care and attention, even in cloudy Seattle

Pamela Williams, King County Regional Long Term Care Ombudsman. The Washington State Long-Term Care Ombudsman Program depends on local citizen volunteers to visit, resolve complaints, and advocate for the rights of residents.
Volunteering is a Win-Win

It’s been two years since the COVID deadly outbreak. No population was… Continue reading

As an Internet Essential Ambassador, Comcast Retail Market Manager Oliver Hoang provides members of his community with customer service to get them connected to the Internet.
Renton Resident Oliver Hoang named Internet Essentials Ambassador of the Year

Comcast has recognized Retail Market Manager, Oliver Hoang, as one of our… Continue reading

Comcast will award $1 million in total grants as well as technology and marketing resources to more than 100 small businesses owned by people of color in King and Pierce Counties (Comcast Washington)
Three Renton Businesses Awarded $10k Grants Thru Comcast RISE

Dpad Retro Gaming, Reign Fitness and SpoonFed Training are among 100 small businesses awarded

Justin Wammock, Executive Director, GenCare’s The Lodge at Eagle Ridge.
Home for the holidays at Renton senior-living community

Everyone likes to think of their home as a special place, especially… Continue reading

Snoqualmie Casino invites job seekers to meet with leaders from various departments within the casino business operation this Saturday during a hiring fair at the Greater Maple Valley Community Center.
Snoqualmie Casino hosts hiring fair at Greater Maple Valley Community Center this Saturday

Great benefits, fun work environment and growth opportunities make Snoqualmie Casino a sure bet

Bean bag
For your loved one, the comforts of home, for you, peace of mind

Federal Way retirement community takes care of the little things, so you and your loved ones can get back to enjoying life

GenCare Renton: The Lodge at Eagle Ridge
For your loved one, the comforts of home, for you, peace of mind

Renton’s The Lodge at Eagle Ridge retirement community takes care of the little things, so you and your loved ones can get back to enjoying life

GenCare’s Lodge at Eagle Ridge welcomes you!
Renton retirement community provides variety: the spice of life

Having the right level of support is important to feeling comfortable, safe,… Continue reading