Washington State establishes a long-term care program

Munnell, Alicia Haydock. “Washington State establishes a long-term care program”. Issue in Brief 24-17, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, August 2024. http://hdl.handle.net/2345/bc-ir:110148.
PREVIEW Datastream
PDF

Abstract

The brief's key findings are: (1) Long-term care is the major uninsured risk most retirees face. To mitigate this risk, Washington State enacted WA Cares in 2019. (2) WA Cares covers up to $36,000 for care needs and is financed by a 0.58-percent payroll tax. (3) The state proactively identified and resolved potential kinks in the program, and its finances appear solid over the long term. (4) WA Cares will offer valuable support for middle-income households and serve as a proof of concept for other states and the federal government. (5) The one risk it faces is a ballot initiative that would make it voluntary, which would essentially kill the program.

Title
Washington State establishes a long-term care program
Author
Munnell, Alicia Haydock
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
August 2024
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
24-17
Persistent Link
http://hdl.handle.net/2345/bc-ir:110148
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Health
Long-Term Care

My Bookmarks

Bookmarks: