Businesses & Employers

Universal Healthcare is Great for Business

The Washington Health Trust is fully realized, landmark legislation that will offer comprehensive healthcare for all Washingtonians. The primary source of funding this system will be employers. Instead of paying for individual insurance plans, businesses would pay a payroll tax into a dedicated trust that will pay the healthcare expenses of Washingtonians.

Voluntary Enrollment

Business owners could select the Washington Health Trust for all of their Washington State employees or individual employees could choose it.

Employer Contribution

Employers
will contribute 		4.5% – 10.5%
of wages
  • 4.5% for microbusinesses (less than $1M in gross annual profit), first $15,000 per employee exempt
  • 6.5% for minibusinesses (between $1M and $3M in gross annual profit), first $15,000 per employee exempt
  • 10.5% for businesses over $3M in gross annual profit
  • Employers may deduct 0-2% from employee payroll
Sole Proprietors
will contribute 		2.0%
of earnings
  • The first $15,000 won’t be taxed

Universal healthcare doesn’t require new funds. Instead, costs are shifted from private insurance to a predictable quarterly tax. Current average to provide health insurance for employees is 6.9% of gross wages for private companies and 11.2% of gross wages for public employees.

Why small businesses benefit under our plan

Washington Health Trust Cost Calculator

Get an estimate of what your healthcare costs would be under the Washington Health Trust:

Calculator

Exemption Information

There’s a reduction in the contribution for employees making less than $60,000/year. The calculation is as follows:

$15,000 – (Gross Pay x 0.25)

Example:

EMPLOYEE makes $50,000/year and qualifies for an exemption.

  • $50,000 x 0.25 = $12,500
  • $15,000 – $12,500 = $2,500

Employer’s Contribution
($50,000 – $2,500) x 10.5% = $4988/yr or $416/mo

Employee’s Deduction – the employer can deduct any amount up to 2% or elect to pay the entire $4988. 
($50,000 – $2,500) x 2% = $950/yr or $79/mo

Small Business Hardship Program

Whole Washington knows the cost to cover employees may be significantly harder for smaller businesses.

Employers with less than 50 employees that experience a hardship due to the Payroll Contribution may be eligible for a waiver or reduction of this assessment

Administration Reduction

Some benefits of Universal Healthcare are profoundly beneficial but hard to quantify. Imagine a world where you didn’t have to:

  • Shop for health insurance plans
  • Pay an agent or broker
  • Contribute money into HSAs
  • Manage open enrollment
  • Deal with networks
  • Provide education and support for plan options
  • Track eligibility (PT and FT employees receive the same care)

Feedback

The Washington Health Trust needs business support to get passed. We’d love to hear your thoughts.