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WA Cares Fund

4 Aug 2021 5:25 PM | Robbin Blake (Administrator)

There is a little known tax that will start for all Washington state employees on January 1, 2022 for the “WA Cares Fund”.  Each employee will be taxed $.58 of every $100 for long-term care insurance.  This is an employee tax, something that comes out of your paycheck, not an employer tax. 

Starting January 1, 2025, employees who have been paying into this fund will be eligible for benefits.  To be eligible, you must be vested in the fund and there are quite a few requirements.  The maximum benefits that any employee can receive is up to $36,500 – about 3-6 months of care, depending on the facility or level of care provided.  It is possible to opt out, but to do so you need to have your own personal long-term care insurance plan in place by November 1, 2021.  If you are self employed and want to opt in, you can do that as well.  For further details, go to: http://www.wacaresfund.wa.gov/


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