Introduction
This calculator is based on the funding mechanisms in the most recent Washington Health Trust legislation. It’s subject to change based on community feedback and subsequent future legislation.
The calculator is simplified and doesn’t include deductions that could result in further savings.
Under the Washington Health Trust, companies, depending on the size of their business, will be responsible for 4.5% -10.5% of their employees’ annual salaries. Based on your inputs, that will be approximately
Total cost: ${{wht_total_annual_cost}} per year
How does this compare to current costs? In 2021, employers spent an average of $6,440 per employee for individual plans, or $16,253 per employee for family plans. Source
How much will I pay?
Employers can make employees responsible for covering the cost of up to 2% of their salary. If your employer passes on the maximum amount (2%) to you, your employer will be responsible for the balance.
Your (2% of salary) share: ${{wht_annual_employees_share}} per year
Employer's share: ${{wht_employers_annual_cost_less_employee_share}} per year
Your employer can use any combination of 0-2%, or for example, a phasing out based on retention, as hiring incentives.
The following are included in the Washington Health Trust essential benefits package:
- Inpatient / Outpatient Care
- 24 Hour Emergency Services
- Acupuncture, some massage and other healing therapies
- Audiology
- Dental
- Maternity, Newborn, Pediatric Care
- Medical Devices and Biological Products
- Mental Health and Substance Abuse Treatment
- Palliative and End of Life Care
- Prescription Drugs*
- Reproductive Care
- Rehabilitative Care, Occupational and Physical Therapy
- Vision
With the Washington Health Trust we stop paying
- Deductibles
- Premiums
- Co-pays
- Medical Bills
- Out of Network Charges
- High Prescription Costs
*Generic prescriptions are fully covered. For any non-generic medications, the most an individual will pay for prescriptions is $250 per adult per year.
Under the Washington Health Trust, companies, depending on the size of their business, will be responsible for 4.5% -10.5% of their employees’ annual salaries. Based on your inputs, that will be approximately
Total cost: ${{wht_total_annual_cost_per_employee}} per employee per year
How does this compare to current costs? In 2021, employers spent an average of $6,440 per employee for individual plans, or $16,253 per employee for family plans. Source
How much will my employees pay?
You can make employees responsible for covering the cost of up to 2% of their salary. If you pass on the maximum amount (2%) to employees, you’ll be responsible for the balance.
Employees' (2% of salery) share: ${{wht_annual_employees_share_per_employee}} per employee per year
Employer's share: ${{wht_employers_annual_cost_per_employee_less_employee_share}} per employee per year
You can use any combination of 0-2%, or for example, a phasing out based on retention, as hiring incentives.
The following are included in the Washington Health Trust essential benefits package:
- Inpatient / Outpatient Care
- 24 Hour Emergency Services
- Acupuncture, some massage and other healing therapies
- Audiology
- Dental
- Maternity, Newborn, Pediatric Care
- Medical Devices and Biological Products
- Mental Health and Substance Abuse Treatment
- Palliative and End of Life Care
- Prescription Drugs*
- Reproductive Care
- Rehabilitative Care, Occupational and Physical Therapy
- Vision
With the Washington Health Trust we stop paying
- Deductibles
- Premiums
- Co-pays
- Medical Bills
- Out of Network Charges
- High Prescription Costs
*Generic prescriptions are fully covered. For any non-generic medications, the most an individual will pay for prescriptions is $250 per adult per year.
Some benefits are hard to quantify. Here’s a brief list of what else you gain:
- Full transparency for fees; no surprises year-over-year
- No broker fees
- No time lost picking plans, or making employees choose plans
- Option to reduce, eliminate, or phase out employee contributions as a hiring incentive
Under the Washington Health Trust Sole Propiertors will pay 2% of their annual earnings with the first $15,000 exempt.
How much will I pay?
Your cost: ${{wht_total_annual_cost}} per year
How does this compare to current costs? In 2021, employers spent an average of $6,440 per employee for individual plans, or $16,253 per employee for family plans. Source
The following are included in the Washington Health Trust essential benefits package:
- Inpatient / Outpatient Care
- 24 Hour Emergency Services
- Acupuncture, some massage and other healing therapies
- Audiology
- Dental
- Maternity, Newborn, Pediatric Care
- Medical Devices and Biological Products
- Mental Health and Substance Abuse Treatment
- Palliative and End of Life Care
- Prescription Drugs*
- Reproductive Care
- Rehabilitative Care, Occupational and Physical Therapy
- Vision
With the Washington Health Trust we stop paying
- Deductibles
- Premiums
- Co-pays
- Medical Bills
- Out of Network Charges
- High Prescription Costs
*Generic prescriptions are fully covered. For any non-generic medications, the most an individual will pay for prescriptions is $250 per adult per year.
If the Washington Health Trust is adopted into law capital gains tax revenue will be shared between education and the Washington Health Trust.
| $0 - $200K | $200K - $250K | $250K - $300K | $300K + |
|---|---|---|---|
| 0% capital gains tax | 5% to WHT | 7% to education | 7% to education 2% to WHT |
How much will I owe?
Your total Washington State capital gains tax would be ${{total_capital_gains_tax}} this year.
How is it shared?
${{education_capital_gains_tax}} for education.
${{wht_capital_gains_tax}} for the Washington Health Trust.
The following are included in the Washington Health Trust essential benefits package:
- Inpatient / Outpatient Care
- 24 Hour Emergency Services
- Acupuncture, some massage and other healing therapies
- Audiology
- Dental
- Maternity, Newborn, Pediatric Care
- Medical Devices and Biological Products
- Mental Health and Substance Abuse Treatment
- Palliative and End of Life Care
- Prescription Drugs*
- Reproductive Care
- Rehabilitative Care, Occupational and Physical Therapy
- Vision
With the Washington Health Trust we stop paying
- Deductibles
- Premiums
- Co-pays
- Medical Bills
- Out of Network Charges
- High Prescription Costs
*Generic prescriptions are fully covered. For any non-generic medications, the most an individual will pay for prescriptions is $250 per adult per year.
All Washington residents regardless of employment can sign up and receive coverage through the Washington Health Trust.
If you are unemployed or between jobs you will be fully covered without cost.
A healthcare assessment will only be applied if the resident makes more than $15,000 in income or they make capital gains of more than $200k (excluding retirement, funds used to purchase a primary residence, or home sales). The income of spouse, partner or dependents has no effect on the healthcare assessment of others without income in their household.
If you have Medicare, you will have the option to enroll in the Washington Health Trust as your supplemental Medigap plan at no additional cost. If you’re happy with Medicare, you can continue as is and use any supplemental Medigap plan available to you.
Having the Washington Health Trust as your Medigap plan gives you these benefits.
- You'll receive expanded benefits, like vision, dental, audiology, and prescription drug coverage.
- Most prescriptions are fully covered, including all generics. The most you’ll pay for prescriptions that aren’t covered is $250/per person, per year for brand name prescriptions who have a generic equivalent.
- You'll eliminate out-of-pocket costs like co-pays, deductibles and coinsurance.
- You'll be able to see the provider of your choice.
As part of the long term transition, the plan would be to transition all Medicare enrollees into the Trust as a Medicare Part C plan.