Below you will find a benefits summary of the Trustmark program vs. the WA Cares Fund program. Refer to the Washington State Department of Social and Health Services and http://wacaresfund.wa.gov for additional information.
Below you will find a benefits summary of the Trustmark program vs. the WA Cares Fund program. Refer to the Washington State Department of Social and Health Services and http://wacaresfund.wa.gov for additional information.
Plan Design Specifications |
WA Cares Fund Program |
Trustmark LTC + Life Insurance Plan |
| LTC Benefit Amount (in today's dollars) | $100 units per day | $1,000 - $6,000 / Month |
| Total LTC Benefit Amount (in today’s dollars) | $36,500 | $50,000 - $300,000 |
|
Death Benefit/Life Insurance |
None | YES |
| Benefit Increase Option | Subject to review by Trust Commission, not to exceed the Washington Consumer Price Index | NO |
| Waiting Period (Vesting) | At least 10 years at any point in your life without a break of 5 or more years within those 10 years, or 3 of the last 6 years and at least 500 hours per year during those years.* | None |
| Payment Type | Payroll Contribution | ACH - Direct Bill |
| Program Cost | .58% of wages | Rates based on age, cigarette use status, and benefit amount elected |
| Qualifying Benefit Triggers | 3 of 10 Activities of Daily Living and other defined issues* | 2 of 6 Activities of Daily Living or Severe Cognitive Impairment such as Alzheimer's Disease or Dementia |
| Covered Benefits | Professional or personal care in your home, a licensed residential facility or a nursing facility and other long-term care services. Visit the DSHS website for additional benefits. | Designed to provide coverage for one or more necessary or medically necessary diagnostic, preventive, therapeutic, rehabilitative, maintenance or personal care services that are provided in a long-term care facility, in the community or in your home. The plan provides coverage in the form of a fixed dollar indemnity benefit, by accelerating 4% of the death benefits available under your certificate for long-term care expenses. |
| Is Severe Cognitive Impairment an Independent Trigger? | NO | YES |
| Portable across state lines? | NO | YES (within US only) |
| Reimbursement vs Cash Benefit Payments | Reimbursement | Cash |
| Contract oversight by Washington OIC | NO | YES |
| Significant pre-existing conditions approved | YES | YES (up to age 64). 6/6 month pre-ex for LTC claims. |
WA Cares Fund (LTSS Trust Act) Disclaimer: Site references include http://wacaresfund.wa.gov and https://www.dshs.wa.gov/altsa/stakeholders/long-term-services-and-supports-ltss. Material provisions of the Program are subject to future rule making and regulatory recommendations by the Washington State Legislature and members of the Trust Commission. This content is an interpreted summary based on the best available information at the time of publication. It is not to be used as financial, legal, or tax advice. Refer to the Washington State Department of Social and Health Services and other official state resources for final LTSS Trust Act details.