SYNOPSIS OF THE HEALTH SECURITY TRUST

WHAT IS THE HEALTH SECURITY TRUST?

THE HEALTH SECURITY TRUST is a fund that consolidates all money now spent on healthcare in Washington. Medical claims will be paid from this single source. The Trust will be a dedicated fund, separate from the state's general fund. Waivers will be sought to include federal funds. The 20% reduction in cost (no profit, no advertising) will allow coverage for all residents.

The Trust will be governed by a Board of Trustees that reports to the Governor. A citizens' committee (consumers, health care groups) and a technical committee (health providers, financial experts, etc.) will advise the Board.

HOW IS IT FINANCED?

Payrolltax of 6-12% on businesses (amount dependent on # of employees) $75 monthly premiums from all state residents over 18. Some employers will pay this premium. The State of Washington is required to do so for state employees. Medicare recipients pay $50/month. Childrenare covered at no charge. Residentswith incomes lower than 250% of the poverty line will pay reduced or no premiums. Waivers for some small businesses.

COVERED BENEFITS INCLUDE:

Inpatient & Outpatient Medical Services Home & Hospice

Vision & Hearing Emergency & Ambulance

Prescriptions Preventive care

Mental Health Substance Abuse

Rehabilitation Phase-in: Dental &Long Term Care

ADVANTAGES:

All residents are covered Public accountability

Choice of provider Complete portability

Simple claim procedure Mental health parity