skip to main content
skip to newscasts

Thursday, April 25, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

SCOTUS skeptical that state abortion bans conflict with federal health care law; Iowa advocates for immigrants push back on Texas-style deportation bill; new hearings, same arguments on both sides for ND pipeline project; clean-air activists to hold "die-in" Friday at LA City Hall.

view newscast page
play newscast audioPlay

"Squad" member Summer Lee wins her primary with a pro-peace platform, Biden signs huge foreign aid bills including support for Ukraine and Israel, and the Arizona House repeals an abortion ban as California moves to welcome Arizona doctors.

view newscast page
play newscast audioPlay

The urban-rural death divide is widening for working-age Americans, many home internet connections established for rural students during COVID have been broken, and a new federal rule aims to put the "public" back in public lands.

Long-Term Care Funds Could Grow Under WA Measure

play audio
Play

Wednesday, October 21, 2020   

SEATTLE -- Washington voters soon will decide on a measure that could stretch funds for long-term care.

Senate Joint Resolution 8212 would allow a portion of funds from the Long-Term Care Trust Act to be invested in stocks and bonds for higher returns. The resolution to put the measure to voters got bipartisan support in the Legislature this year, passing 45-3 in the Senate and 96-1 in the House. Without this law, said state Sen. John Braun, R-Centralia, who sponsored the resolution, the state expects a 1% to 2% return on investment.

"The long-term average for the State Investment Board is closer to 7% or 8%," he said, "so a significantly higher return on investment, which means one of two things: Either we can reduce the tax rate, which would be my preference, or we could potentially increase the benefits. Either way, the state's citizens come out better in the end."

The Long-Term Care Trust Act funds services through a payroll fee of slightly more than 0.5%, with lifetime benefits capped at $36,500. Opponents of the measure say it's too risky to invest public funds in the stock market.

The measure needs approval from voters because the state Constitution prohibits investing public funds into private equity. Braun said the state has lifted the prohibition in three previous cases and has been successful. He said he believes there could be consequences if the state doesn't invest.

"We either can't afford to deliver long-term care to our seniors in the future, or we have to pay much higher tax rates to deliver that care," he said. "So, it's not like doing nothing is a complete safe harbor."

Seventy percent of people age 65 and older will need long-term care services, according to the U.S. Department of Health and Human Services. With the state's population aging, Braun said, it's important to tackle long-term care costs now.

"The more we do to prepare, as a society and individually, for that eventuality in all of our lives," he said, "the better off we are."

The measure is supported by a coalition of groups, including AARP Washington, the Alzheimer's Association and League of Women Voters. Election Day is Nov. 3.

The text of SJR 8212 is online at app.leg.wa.gov, and the HHS data is at aspe.hhs.gov.


get more stories like this via email

more stories
Rep. Crystal Quade, D-Springfield, the House Democratic floor leader, called Missouri politicians "extremist" on social media after they passed the most restrictive abortion ban in the country and defunded Planned Parenthood. (Fitz/Adobe Stock)

Health and Wellness

play sound

The Missouri Legislature has approved a law to stop its Medicaid program known as MO HealthNet from paying Planned Parenthood for medical services for…


Environment

play sound

A round of public testimony wrapped up this week as part of renewed efforts by a company seeking permit approval in North Dakota for an underground pi…

Social Issues

play sound

Air travelers could face fewer obstacles in securing a refund if their flight is canceled or changed under new federal rules announced Wednesday…


The Iowa Movement for Migrant Justice calls Senate File 2340 a "ridiculous stunt," passed in an election year "to mobilize voters using fear and anti-immigrant sentiment." (Adobe Stock)

Social Issues

play sound

Advocates for immigrants are pushing back on a bill signed by Iowa Gov. Kim Reynolds in the last few days of the legislative session, modeled on a …

Environment

play sound

An environmental group is suing the U.S. Fish and Wildlife Service to protect the Arkansas mudalia snail under the Endangered Species Act. In …

Currently, more than 2.7 million Californians live within 3,200 feet of an operational oil well. (MSPhotographic/Adobestock)

Environment

play sound

Leaders concerned about pollution and climate change are raising awareness about a ballot measure this fall on whether the state should mandate buffer…

play sound

A coalition of climate groups seeking cleaner air at the rail yards and ports of Los Angeles and Long Beach will hold a "die-in" rally tomorrow at Los…

Health and Wellness

play sound

By Marianne Dhenin for Yes! Magazine.Broadcast version by Shanteya Hudson for Georgia News Connection reporting for the YES! Media-Public News …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021