Originally, WA Cares was supposed to begin collecting taxes in 2022. The program is supposed to start paying up to $36,500 in benefits to eligible participants starting July 1, 2026. WA Cares could serve as a model for a public LTC benefits program in California.” Advisor Magazine

“U.S. households ages 55-plus control 74% of investable assets, but whether these households are retired has little to do with their asset levels, according to a new market sizing report by Hearts & Wallets, the independent research and benchmarking firm that specializes in saving, investing and financial advice. … The 130 million households in the U.S. control nearly $70 trillion in investable assets.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Old people have all the money but Medicaid doesn’t require them to spend it for health and LTC expenses before paying on their behalf. Yet social insurance advocates want to charge younger, financially struggling people extra payroll taxes to transfer even more wealth to the affluent elderly. That’s the WA Cares program in a nutshell. How long before these suckered young citizens rebel?