First Responders, Caregivers, Advocates for Seniors and People with Disabilities Cheer Voters’ Approval of Amendment 8201
FOR IMMEDIATE RELEASE: Tuesday, November 4, 2025
Contact: Kristin Hyde, 206-491-0773
Fire fighters, nurses, home care aides and other supporters cheered early ballot returns showing voter approval of Amendment 8201, the only statewide measure on voters’ ballots this election.
Ana Ascanio, manager for the Approve 8201 campaign: “Last year, Washington voters rejected ballot Initiative 2124 (an attempt backed by conservative hedge fund manager Brian Heywood to drive the program into bankruptcy), and this year they approved Amendment 8201, repeatedly voting to protect and strengthen WA Cares, our long term care benefit fund. Voters are sending a clear message to lawmakers that they support strengthening this essential benefit for seniors and people with disabilities. Amendment 8201 will grow Washington’s long-term care fund by billions of dollars without costing taxpayers a penny, help keep premiums low and create opportunity for the benefit to become more generous.”
Representative Nicole Macri (LD 43): “Washington State voters have chosen again and again to invest in our people, ensuring we can age with dignity and provide essential support and services to families when the need for long-term care comes along. Especially at a time when our social safety nets are being slashed by the federal government, I’m proud to live in a state where voters stand for the collective good.”
Senate Joint Resolution 8201 was placed on the ballot by a bipartisan supermajority of state lawmakers, voting 86-9 and 42-7 in favor of sending Amendment 8201 for approval by voters this election. The measure will allow the independent Washington State Investment Board (WSIB) to diversify investments of Washington’s Long-Term Care Services and Supports Trust Fund into stocks and other funds to increase growth. Under the change, the Board would invest a portion of only the fund's reserves in equities (stocks), which, historical evidence shows, generate higher returns over the long term. Fund reserves are the dollars left after benefit payments and admin costs are taken out each quarter. The majority of the state fund would stay invested in conservative assets like bonds and treasury bills. The Washington State Investment Board (WSIB) manages over $200 billion of assets and has one of the strongest track records in the country of fiduciary responsibility, securing high returns for funds that provide benefits for Washingtonians. Independent fiscal experts project the change will significantly grow the state’s long-term care fund by nearly $200 billion over the next 50 years.
Gary Bruebaker, who was Chief Investment Officer for the WSIB for 19 years, explained “Investing this fund in a diversified portfolio will likely boost its returns by more than 2% over current rates. This is the financially-responsible thing to do to ensure the long-term care fund is reliable for beneficiaries, as the State has done for dozens of pension, retirement and other benefit funds.”
According to an independent actuarial’s analysis, increasing fund investment returns by even just 1% would boost the state WA Cares Fund by $67 billion over 50 years, and by $235 billion over 70 years, at no cost to taxpayers.
Sources: Washington Office of the State Actuary, Projected Cash Flows (Undiscounted) - 2024 Base Scenario vs. Investment Income Sensitivities (April 27, 2025); Milliman Model; Approve 8201 Projections
Amendment 8201 was supported by more than 100 elected leaders and organizations representing fire fighters, nurses, teachers, and advocates for working families, seniors and disabled people, and received unanimous endorsement from editorial boards across the state including the Seattle Times, Everett Herald, Columbian, The Stranger, Tri-City Herald, Walla Walla Union Bulletin and Northwest Labor Press.
Greg Markley, Division Chief for the Puget Sound Regional Fire Authority, Secretary-Treasurer of the Washington State Council of Fire Fighters and a member of the Washington State Investment Board: “Fire fighters know how important smart diversified investment strategy is for funding our pensions and retirement funds. Washington State has one of the best track records in the country of successful investments to grow public benefit funds. Approval of Amendment 8201 strengthens the fund that pays for home care and other services and support, helping keep our most vulnerable Washingtonians safer.”
Justin Gill, a Nurse Practitioner and President of the Washington State Nurses Association, shared: “I see older adults and people with disabilities cycle in and out of the ER because they can’t afford the support they need to stay home and out of the hospital. Amendment 8201 strengthens our Long-term Care Trust Fund without raising taxes, using proven investment strategies to grow long-term care benefits for 4 million Washingtonians. Nurses, like the vast majority of Americans, don’t have enormous nest eggs. WA Cares is not only going to help our patients, it’s going to be a gamechanger for us and our families when we need help with daily living activities.”
Seth Greiner, the Washington state-based Senior Manager of Advocacy for the National MS Society, shared: “The burden on families of providing and paying for assistance to maintain a person’s quality of life and dignity can mean enormous financial and emotional stress. Securing long-term care financial resources for Washingtonians, regardless of pre-existing conditions, is critical. Thanks to voter approval of Amendment 8201, our state long-term care benefit will be even stronger.”
Melissah Watts, a Seattle area caregiver, shared: “Growing our state long-term care fund is even more important now with draconian Medicaid cuts approved by Congress. Approval of Amendment 8201 means millions of Washingtonians will have a safety net to turn to when we, or a loved one, needs help with daily living activities because of a serious injury, disease, disability or the normal challenges that can come along as we age. Funds to pay for a home care aide, home modifications, medical and mobility equipment, help with meals, transportation and medication will be a lifeline for people like me and my children.”
For more information: Kristin Hyde, kristin@powerhouse-strategic.com 206-491-0773 or visit https://www.approve8201.org/
# # #
