WA Cares Fund projected to be solvent over long term based on new analysis

WA Cares Fund Logo — black and white shape of a diagonal cut of tree rings with a heart at the center, WA CARES FUND text.
  • Under most scenarios evaluated, including the best-estimate, base plan scenario, the program’s premium assessment of 0.58% ($0.58 per $100 of earnings, or about $24/month for the typical covered earner making $50,100/year) is projected to keep the WA Cares Fund solvent over the entire projection period (through June 30, 2098).
  • The report considers a broad range of potential scenarios. In some of those scenarios it is possible that, without corrective action, the premium rate required to fund the program over the long term could exceed the current statutory premium rate of 0.58%. It is also important to note that actual results will vary from the projections in the report. The Long-Term Services and Supports Trust Commission, the WA Cares Fund oversight body, utilizes a Risk Management Framework that requires the Office of the State Actuary and the LTSS Trust Commission to continuously monitor the program’s finances. This ensures that any risks are identified promptly, giving the Commission and the Legislature ample time to adjust the program as needed to stay on course.

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