Washington Cares Fund Exemption

Uber
sbaoapa

Go to company page Uber

sbaoapa
Apr 4 10 Comments

I’m on an F1 switching to H1B soon, and have started a role in Washington, but haven’t yet moved into Washington from another state.

Tax form says “you can apply for an exemption through the Washington cares fund website”. Website says workers on non-immigrant visas can opt out.

Should I opt out? My employer already has health insurance etc. If I contribute to this fund and later leave the state/country, do I still get access to the benefit when I retire or is that money lost?

What’s the catch? Am I missing something?

TC: 195K

#insurance #medical #health

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TOP 10 Comments
  • Investment Bank
    Glinda

    Investment Bank

    PRE
    HP
    Glinda
    Opt out until you move to WA. As a non-resident of WA you do not qualify for benefits. Currently, however, you should not have to do anything because implementation of the plan was postponed until Jul 1, 2023.
    Apr 4 3
    • Investment Bank
      Glinda

      Investment Bank

      PRE
      HP
      Glinda
      I work for a WA company in another state so I won't have to pay it. Once you move to WA, if the law is not overturned, you have to pay the tax or purchase a private policy. If you are on the state plan, if you move out of state you lose all the money you have paid in. The total benefit you can receive is $36,500, not even covering 6 months in a nursing home.
      Apr 4
    • Uber
      sbaoapa

      Go to company page Uber

      sbaoapa
      OP
      Wow. That’s a pretty shitty scenario for people with a high TC.

      People with high TC will probably contribute 200K+ over the long term, and yet get a max of $36.5K out of it.
      Apr 4
  • Amazon
    Wsly_PIPes

    Go to company page Amazon

    Wsly_PIPes
    OP were you able to even file the exemption? Looking at the WA Cares website, the private LTC exemption window closed Dec31, 21 and a new window with additional criteria for exemption will open up only in Jan, 23.
    Apr 4 2
  • Amazon
    Day-2

    Go to company page Amazon

    Day-2
    At your TC (and most on this platform), you're better off opting out.
    Apr 4 1
    • Uber
      sbaoapa

      Go to company page Uber

      sbaoapa
      OP
      Yeah, because it’s an uncapped tax, it felt like it would cost a lot more than what I’d gain from it long term.
      Apr 4
  • Adobe
    Smh21

    Go to company page Adobe

    Smh21
    The cares fund is not the same as health care provided by your employer. It’s meant as a benefit for when you’re retired and elderly and need care. It was a poorly written law and may be reverted. Fwiw, most citizens with a decent income opted out and had to sign up for our own long term care insurance then inform our employer so our employer makes sure it isn’t taken from our payroll. And if this requirement is overturned, I’ll bet most people will drop their LTC.
    Apr 4 0