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From its inception, the WA Cares fund has had a flawed planning process, chaotic implementation, and is teetering on the edge of a disastrous future. Even before record numbers of Washingtonians opted out, the program lacked adequate funds to cover the basic promises it made.
Will this program cover long-term care needs?
Not adequately! The lifetime benefit per person is only $36,500 - much lower than what the average person will need for long-term-care. It comes at the cost of 58 cents per $100 you make, an investment that could be made more efficiently in private programs. Worse yet, many people who pay into the system will see no returns because of the limitations on the payout. These limitations were originally so bad, they had to amend the law to increase the number of people able to opt-out. Even still, that opt-out process is more complicated than it should be.
Are people choosing to opt-out?
In every way possible. When the law was first implemented, there was a limited time to opt-out of the program upon proving you had a long-term care policy already. The first day of opting out proved so popular the website was overrun and down for many people. The new program is wildly unpopular with those it purports to help. The opt-out numbers have been staggeringly high, only leading to further complications on how well it will be funded and how much the benefit will cover.
Will implementation prove it to be a success?
With its turbulent start, it seems extremely unlikely. The law has already been delayed in implementation due to complications with its rollout. This coupled with the fact that projections show that it already will need a tax increase to keep it from failing lead us to see it for what it is: an unmitigated disaster. There are ways we can approach long-term-care that are beneficial, such as increasing information on needs, but this program will not help fix the problem.