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.

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

As an advocate for physical and mental wellbeing, Jaime Jaynes created Port Townshend’s Vespertine Boutique as a safe, confidential retail destination for clients to discover products, techniques and services that support life-long health.
Travelling with toys

If you’re lucky enough to have travel plans this year, you might… Continue reading

Contest
Seeking Submissions for the Proudly PNW Photo Contest

Every year local photography enthusiasts submit their best photos to First Fed’s… Continue reading

Bees are vital to Bloedel Reserve, whose wetlands and wildflower meadow depend upon robust pollinator populations for their ability to set seed and perpetuate themselves.
What’s the buzz at Bloedel Reserve? (Hint: it begins with bees!)

Bees are a key part of the conservation puzzle at this Bainbridge Island garden

One year ago, Vespertine Boutique opened in Port Townshend with a mission to ensure that people know there are numerous ways to access personal healthcare, including pleasure, contraception, and sexual education.
The right to healthcare for all humans

Here at Vespertine Boutique, we believe we would be doing a disservice… Continue reading

Amie Batton, Director of Transitional Studies at Peninsula College.
Keep going, keep learning

Single mother earned her GED and advanced degrees by utilizing PC Services and Support

First Fed District Branch Manager Jody Copeland and her team members are ready to help you maximize your savings.
Higher Interest Rates are Good News for Savings

Rising mortgage interest rates are making headlines this year. However, higher interest… Continue reading

Inflated costs and supply shortages have inspired some to try <a href="https://vespertineboutique.com/collections/period/products/hello-cup-s-m-small-medium" target="_blank">alternative menstrual products</a>. Vespertine Boutique in Port Townsend can help answer any questions you may have.
Time to think outside of the tampon box?

If you’re a person that menstruates you may have noticed some important… Continue reading

Halloween party at OMP Children's Clinic
Checking in with PC Grad Ariel Hodge, MA-C, CMA (AAMA)

PC alumna Ariel Hodge has worked at Olympic Medical Physicians Women’s Health… Continue reading

Your business could qualify for thousands of dollars per eligible employee through the Employee Retention Credit tax refund.
Business Owners: File for Your ERC Tax Refund Now

Was your business impacted negatively by the pandemic? Your business may be… Continue reading

Find Vespertine Boutique on Facebook, Instagram and at 914 Water St. in Port Townsend.
One secret to happiness in aging? Stop trying to recapture lost youth

Tools to help sexual health challenges of older adults can be useful at all ages

Jesse Major is a Public Records Analyst for Clallam County and previously worked as a journalist for the Peninsula Daily News. His time working at The Buccaneer, Peninsula College’s award-winning student newspaper, was the launch of a wild career.
Skills honed in PC Journalism Program help shape graduate’s career trajectory

By Jesse Major My time working at The Buccaneer, Peninsula College’s award-winning… Continue reading

First Fed Board of Directors with Field Arts & Events Hall leadership. Photo credit: Zoe Bowen.
First Fed Gives $2M to Field Hall to Support Local Economic Development

Along the waterfront in downtown Port Angeles, a new community space is… Continue reading