How much will you pay into the WA Cares Fund?

Starting in 2022, most Washington workers will see a 0.58% deduction from their paychecks that will go toward funding the state’s public long-term care insurance program. Keep in mind the calculator assumes your salary won’t change and the benefit is only estimated out to your expected retirement date. The age and date you will require long-term care is unknown.

When 2022 starts, I will be age 35
I am planning to retire at age 66
I make a gross annual salary of $50,000

This would set my annual payments at $290, with a lifetime premium of $8,990.

In 2053, the benefit is estimated to be $36,500.
* If you plan to stop working within 10 years, you will lose eligibility for the benefit three years after retirement.
* If you plan to stop working within three years, you will not be eligible for the benefit.

Source: WA Cares Fund

Lauren Flannery / The Seattle Times