Why we are voting ‘no’ on Washington’s I-2124 concerning long-term care insurance | Opinion

There’s a lot at stake this election as we Washingtonians wait for our ballots to arrive in the mail, not least of which is the future of our state’s long term care benefit. Initiative 2124 is misleadingly written to sound like a reasonable change — making the program voluntary. In truth, it’s an attempt to privatize social services by ending long-term care benefits for nearly 4 million workers.

Leading experts on long term care financing — including the insurance industry itself — say I-2124 would cause a death spiral, bankrupting the state’s long term care insurance program by 2027. Five different scenarios analyzed by the Office of State Actuary all led to insolvency and elimination of the benefit in 2027 under I-2124. (Actuarial Analysis Feb. 13, 2024)

None of us likes to think we’ll ever need help with things like getting dressed, bathing, making meals or getting around. And most assume, if something does happen, our healthcare system will provide the support we need to recover or access ongoing care at home. But the reality doesn’t match up with this wishful thinking.

In our lines of work, we have had front row seats to witness how challenging it has become for folks to get the support they need to live with safety and dignity in their own homes. When a patient is through with the acute care that doctors and nurses can provide, they often need support at home to help with medications and meals, equipment like a wheelchair, safety bars in the shower or a ramp to replace steps. But too many people simply can’t afford these supports and services, and most don’t realize that “long term care” whether you receive it in a residential facility or at home, is not covered by health insurance or Medicare.

While the wealthiest among us may have nest eggs to spend on care if they need it someday, the vast majority of people have less than $5,000 in savings. I-2124 will take away the only affordable long term care coverage available, which will send many low and middle income families into debt. Private long term care insurance costs anywhere from $2,000 to $8,000 per year for a healthy couple. Companies routinely jack up premiums by 50%, 100%, even 300% without warning, charge women more than men, and delay and deny claims. Private insurance companies offering long term care coverage are not constrained from denying coverage due to a preexisting condition such as high blood pressure, cancer, or diabetes. And, that is exactly what they routinely do, even if you can afford the expensive premiums. If I-2124 passed, a tidal wave of aging Washingtonians would have no option other than turning to taxpayer-funded Medicaid, which requires you to drain your family’s savings to qualify.

I-2124 hits women the hardest because the reality is that it is women who most often leave their jobs to care for family members. Without Washington’s long term care benefits, even more women will end up reducing their hours or leave their jobs altogether, taking on increased expenses to support ill, injured, or aging loved ones while lowering their lifetime earnings, savings and retirement benefits.

We believe everyone deserves to have the support they need to live safely and with dignity no matter what challenges life throws at them. We’re sure glad today’s workers are going to have benefits that will help their families through what can be the most physically, emotionally and financially stressful times of our lives.

Lawmakers have strengthened our state’s long-term care program by covering near retirees and part time workers, and made benefits portable so people can keep them if they move out of state someday for work, family or to retire. Instead of continuing to improve this lifeline, I-2124 would destroy it. That’s why we are joining the more than 140 organizations that advocate for consumers, patients, retirees and working families in voting No on I-2124.

Jim Hopper, MD is a retired family physician, and Chris Phillips is former director of community health for PeaceHealth St. Joseph Medical Center and a board member of Unity Care Northwest.

This story was originally published October 4, 2024 at 9:22 AM.