This bill establishes the Washington Health Trust, a comprehensive state-wide health care financing system designed to provide universal health coverage for all Washington residents. The bill creates a nonprofit trust governed by a 17-member board of trustees, which will develop a single comprehensive benefits package covering essential health services from birth to end-of-life care, with no premiums, deductibles, or copayments for most residents. The trust will be funded through multiple mechanisms, including a 10.5% employer contribution, a 2% employee payroll deduction, and an increased capital gains tax on individuals with net earnings over $200,000. The system aims to eliminate health care disparities, simplify health financing, and guarantee coverage across a comprehensive set of essential health benefits regardless of income, race, immigration status, or other factors. Key provisions include establishing a board with diverse representation, creating advisory committees, developing a statewide health data system, negotiating provider reimbursements through global budgeting, and implementing a phased rollout beginning in 2026 with full implementation targeted for 2029. The bill also includes provisions for a health options program to cover uninsured residents and ensures cultural and linguistic competence in health care delivery.