Washington’s innovative paid family and medical leave program could be hundreds of millions of dollars in the red within a few years, unless the Legislature acts.

This could mean reduced benefits or increased payments by the employers and employees who fund the program , which lets Washingtonians take paid time off work for serious health issues or to care for a family member or a new child.

The program’s actuary says paid family and medical leave could face a more than $350 million deficit in 2029 .

The state sets a premium rate annually for how much employers and employees need to pay into the program. This year, 0.92% of Washington workers’ paychecks go toward it. Next year, that’s projected to increase to 1.13%, though the rate will be finalized at the end of this month.

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