WA Cares: New analysis shows long-term solvency projections

Report evaluates premium rate

The Office of the State Actuary has released a new report on the WA Cares Fund, Washington’s universal long-term care insurance program, for which premium collection begins July 1, 2023. Under most scenarios evaluated, including the best-estimate scenario, the program’s premium rate (0.58% of earnings) is projected to keep the fund fully solvent for 75 years, the full period evaluated in the report. This means WA Cares is on solid financial ground as it prepares to launch. To learn more, read a summary from the WA Cares team or watch a Q&A video.