WA Cares Helps With Aging And Long-Term Care Planning

Vicki’s Story:

It seems like I’ve always been the caregiver.

First, I was a single mom raising three boys. Then I became a home care aide to people with cancer, Alzheimer’s, and disabilities. But as I get closer to retirement, I’m the one struggling with some of life’s basic daily living tasks.

Aggressive arthritis is making even walking tough. Because I have first-hand experience supporting folks who need a helping hand, I know I’ll be the one needing someone to help me someday soon.

When people hear “long-term care,” they probably picture someone very old and ill who lives in a nursing home. Long-term care is just a term for when you need a little help doing normal everyday tasks. Things like dressing, bathing, managing medication, making meals, running errands, and getting around. An injury, illness, or disease can mean limitations that make it hard to do these basic tasks. And we often live in denial that these limitations can affect any of us, at any age.

A new way to pay for the care we need.

The fact is that most of us will either need care or we will be a caregiver for a family member or a friend. And let’s face it, most of us (90%) do not have money saved to pay for someone to help us. Many folks don’t realize that Medicare and health insurance do not cover home care or living in a long-term care facility until it happens. They also don’t cover equipment like walkers and wheelchairs, or home modifications like ramps and walk-in showers.

Until now, we had only three options to pay for help at home:

• 1. Pay out of pocket from your savings or income;

• 2. Try to buy an expensive private long-term care insurance policy. But be aware that most will deny you if you have a pre-existing condition. These policies cost $5,000-$7,000 on average per year for a couple aged 65. Plus, you must pay monthly premiums even after retirement; or

• 3. Drain your life savings and sell all your assets to qualify for Medicaid.

But Washington has created a new way: the WA Cares Fund, which will help workers, even folks near retirement, like me.

The WA Cares Fund provides $36,500 (which increases with inflation) in flexible funds when you need care. It could be anything from an unexpected injury to a disease like rheumatoid arthritis, diabetes, lupus, cancer, or dementia.

For folks like me, $36,500 goes a long way. It will help me pay for a home care aide to spend a few hours a week helping with meals, medication management, transportation, or home modifications. WA Cares is a safety net, providing money to pay for a home care aide, or to pay for your time caring for a loved one. I’m sure glad WA Cares will be there for me as I face the inevitable limitations that come with aging.

Video Transcript

“I’ve always been a caregiver. First as a single mom raising three boys. And then as a home care aide to people with cancer, Alzheimer’s, and disabilities. Thanks to lawmakers, the WA Cares Fund now covers a million people nearing retirement.”