If you’ve lived and worked in Washington, chances are you’ve seen “WA Cares” mentioned in your paystub or the news.
WA Cares is the country’s first state-run long-term care insurance program. Since July 2023, employees in Washington contribute 0.58% of their wages – for most, $435+ per year with no income cap.
But what does that get you?
The program offers just $36,500 in lifetime benefits, which won’t even cover six months of full-time care in Washington.
Many retirees opted out (permanently) by purchasing private LTC insurance before the 2022 deadline. If you missed the opt-out window, you can’t stop the payroll tax – but you can still explore better coverage.
Private plans now offer:
- Lifetime benefits
- Tax-free care coverage
- Your money returned to your estate if unused