I-2124 will send more people into debt when faced with expensive long-term care bills and private insurance premiums they can't afford. Middle and low income families are least able to afford private long term care insurance or to pay out of pocket for care, especially because the vast majority of people have less than $5,000 in savings. Only the super-rich can afford to pay out of pocket for long-term care.

I-2124 will throw us back into the expensive insurance market, which routinely jacks up premiums by 50%, 100%, even 300% without warning, and delays and denies claims. I-2124 leaves out people with cancer, diabetes, high blood pressure and other pre-existing conditions - about 57% of us over 50 - because they cannot get private insurance, even if they can afford the expensive premiums.  And it hurts women who are discriminated against by private insurance companies, which charge women up to 70% more than men.

I-2124 will put more pressure on working women.  I-2124 will cause more people, mostly women, to provide unpaid care for loved ones with disabilities, or who are sick or aging, by shutting down Washington’s long-term care benefit fund for 3.2 million working Washingtonians. Women are 73% more likely to permanently leave jobs and five times more likely to work part-time due to caregiving demands. 

I-2124 will make things even worse. More than 800,000 Washingtonians, mostly women, are currently family caregivers. By ending our long-term care insurance program,  I-2124 worsens the care crisis that’s causing huge financial stress for families, and hurting our economy. 

Like with political efforts to privatize Social Security and Medicare, we need to say “no” to efforts to privatize long-term care. I-2124 will allow big long term care insurance companies to get even richer off of aging, sick or injured Washingtonians.

I-2124 is backed primarily by a hedge fund millionaire who recently moved to Redmond from California, who is pushing this initiative for political reasons (Seattle Times, Jan 28, 2024).

I-2124 will cause a "death spiral" - taking away $8.1 billion in benefits over just a few years.

Administrators will be forced to increase premiums to cover remaining participants, driving more people to leave, and quickly leading to bankruptcy. This phenomenon is called adverse selection (Forbes, Feb 21, 2024).

Learn more

Washington’s long-term care insurance program is a safety net, like Social Security or Medicare, set up to allow seniors, and disabled or severely ill adults, to live with dignity and stability.

Lawmakers have steadily strengthened Washington’s long term care benefit—first making near retirees eligible, even if they work part-time. Thanks to new changes, Washingtonians who have paid into the program can keep their benefits even if they move out of state for work, family, or retirement.

The need for long-term care is a scary event we all hope to avoid, but the fact is 70% of us will need help with daily living activities as a result of a serious injury, illness, disease or other challenge that can happen at any age. Thevast majorityof us do not have a way to pay for support like home care, home modifications, medical equipment, or residential care facilities.

Most people don’t realize their long-term care expenses are not covered by traditional health insurance or Medicare, and for most people, income from Social Security isn't enough to cover this expense.

WASHINGTON’S LONG-TERM CARE INSURANCE BENEFIT

Right now, Washingtonians have an affordable, guaranteed benefit we can tap to help cover the costs of long-term care, it’s called the WA Cares Fund. Washington’s long-term care benefits can pay for:

• Home care aide so you can stay in your own home

• Family member’s time caring for you

• Wheelchairs, hospital beds, lifts, and other equipment

• Ramps, grab bars, and other home modifications

• Residential care

The WA Cares Fund has been extensively studied for financial stability, and an independent actuarial analysis says the program is currently on solid ground. All of that will change if I-2124 passes.

If you’re currently working in Washington, you are likely one of 3.2 million workers already building your long-term care benefits through your employer. 

• Part-time workers, working as few as 10 hours per week, are covered.

• Near-retirees and retirees working part-time jobs are now eligible for prorated benefits.

• People who move out of state for work or retirement can now take their benefits with them.

• Self-employed and gig workers can enroll through Washington’s Employment Security Department to build their benefits

Washington’s long-term care benefit provides workers with a big return on investment. Benefits start at $36,500 in 2026, growing to as much as $60,000 in 20 years, indexed to inflation. Learn more.

Lawmakers have steadily strengthened Washington’s long term care benefit—first making near retirees eligible, even if they work part-time. Thanks to new changes, Washingtonians who have paid into the program can keep their benefits even if they move out of state for work, family, or retirement. Voting No on I-2124 will make sure we stop this rollback.