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WA Cares Fund

The Office of the State Actuary (OSA) is responsible for providing recommendations to the Long-Term Services and Supports (LTSS) Trust Commission and the Legislature on actions necessary to achieve and maintain trust solvency, per Chapter 50B.04.030 RCW. In addition, OSA will perform actuarial valuations of the WA Cares Fund beginning in 2024 (the LTSS trust fund was renamed the WA Cares Fund in April 2021).

This webpage provides readers with actuarial work products completed by the Office of the State Actuary (OSA), Milliman, or LTSS Trust Commission in support of the WA Cares Fund.

  • OSA Reports & Resources
  • Milliman Actuarial Studies/Reports
  • LTSS Trust Commission Risk Management

OSA Reports & Resources

OSA reports and resources are typically updated annually.

Summary Report


Summary analysis and commentary from the OSA on Milliman’s 2022 Study.
Executive Summary of 2022 Actuarial Analysis, January 2023

Frequently Asked Questions


Frequently asked questions regarding the WA Cares Fund actuarial projections.
OSA WA Cares Fund FAQ, October 2023

Solvency Reports


Recommendations from OSA to the LTSS Trust Commission and the Legislature on actions necessary to achieve and maintain trust solvency.
OSA Report on LTSS Trust Solvency, 2023

Recommendations from OSA to the LTSS Trust Commission and the Legislature on actions necessary to achieve and maintain trust solvency.
OSA Report on LTSS Trust Solvency, 2022

Recommendations from OSA to the LTSS Trust Commission and the Legislature on actions necessary to achieve and maintain trust solvency.
OSA Report on LTSS Trust Solvency, 2021

Recommendations from OSA to the LTSS Trust Commission and the Legislature on actions necessary to achieve and maintain trust solvency.
OSA Report on LTSS Trust Solvency, 2020

Milliman Actuarial Studies / Reports

This work is performed at the request of the LTSS Trust Commission and the Legislature to support evaluating policy changes and better understand program solvency. Analysis from Milliman is published as soon as publicly available.


2023


Plan Design Changes

Milliman’s modeling of alternative program packages to assess feasibility of adjusting the program to feature portability of benefits.
Potential Program Changes with Portability of Benefits, October 2023

Milliman’s preliminary analysis comparing probability of benefit utilization under different benefit eligibility definitions.
HIPAA Benefit Eligibility Threshold Analysis, May 2023

Other

Milliman’s analysis reflecting a fully voluntary WA Cares Fund.
Fully Voluntary Modeling, December 2023

Milliman’s analysis on migration metrics, assumptions and methodology supporting the 2022 Baseline Analysis.
Migration Supporting Analysis, May 2023

2022


Baseline Analysis

Milliman’s analysis updated the 2020 study to refresh underlying modeling assumptions and reflect more up-to-date program parameters.
2022 WA Cares Fund Actuarial Study

Plan Design Changes

Milliman’s analysis on four alternative program features.
2022 Additional Modeling Requests, November 2022

Milliman’s feasibility analysis on portable benefits.
Portability Workgroup Analysis, November 2022

Millman’s analysis on premium impacts of various scenarios to include current near retirees.
Analysis of Near Retirees Modeling Alternatives, January 2022

Milliman’s analysis on preliminary feasibility analysis – private market opt-out recertification.
Recertification Analysis, September 2022

Other

Milliman’s analysis updating the 2020 study to incorporate private market exemption data through March 3, 2022.
Base Plan Updated to Reflect ESD Opt-Out Data, April 2022


2021


Plan Design Changes

Millman’s analysis on premium impacts of voluntary opt-out for military spouses and certain veterans.
Analysis of Voluntary Military Opt-Outs, December 2021

Milliman’s analysis on the financial impact to the Washington Medicaid program due to the WA Cares Fund.
WA Cares Fund Savings for the Medicaid Program, November 2021

Millman’s analysis on premium impacts of benefit eligibility workgroup alternatives impacting near-retirees, non-residents, and nonimmigrant visa holders.
Additional Modeling for Benefit Eligibility Workgroup, September 2021

Other


2020


Baseline Analysis

The most recent actuarial analysis on the LTSS Trust Program. OSA contracted with Milliman to perform this study based on the enacted version of the program.
WA LTSS Trust Actuarial Study by Milliman, 2020

Plan Design Changes

Milliman’s analysis on the 2020 LTSS Trust Commission recommendations to the Legislature.
Analysis of Washington LTSS Trust Program – Commission Recommendations

Other



LTSS Trust Commission Risk Management

The WA Cares Fund Risk Management Framework was approved by the LTSS Trust Commission on November 10, 2021, and includes information on the following:

  • Funding goal (desired outcomes for the program)
  • Risk management approach (to support the funding goal)
  • Risk management reporting and metrics (to support and inform the approach)
  • Response strategies (when the funding goal is not met or is threatened)
  • Sharing the risk management framework with other entities.

LTSS Trust Commission Risk Management Framework, November 2021

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Last Reviewed: 01/03/2024

Last Updated: 01/03/2024