What GoDaddy Employees Should Know About Caring for Aging Parents
Healthcare Provider Update: GoDaddy provides health insurance coverage to its U.S.-based employees through comprehensive medical, dental, and vision plans. Employees can access preventive care, mental health services, and disability coverage. The company also offers Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs), along with generous employer contributions. Family-friendly benefits include paid parental leave, fertility coverage, and adoption assistance. GoDaddy supports wellness through gym discounts, flu shots, and wellness fairs1.
Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average
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'Many GoDaddy employees underestimate how caregiving responsibilities may influence their long-term planning. To prepare thoughtfully and involve the right professionals, it's important to start these conversations early.' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement.
'Many GoDaddy employees face unexpected pressure when aging parent responsibilities arise. I believe early planning and open family communication can help households navigate these challenges with greater clarity.' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement.
In this article, we will discuss:
Key warning signs that aging parents may need additional support.
Essential legal and health care preparations to help families stay organized.
How to coordinate family involvement and emotional readiness during caregiving.
Many GoDaddy employees in their mid-50s to early 60s come to discover that their retirement planning may have to expand to include the needs of their aging parents. As America’s population grows older, adult children frequently take on caregiving responsibilities for parents facing health issues, financial weaknesses, and cognitive decline. These realities influence family dynamics, investments, estate planning, taxes, and emotional well-being.
“Your parents' financial vulnerabilities become your financial stress unless you plan ahead and take a proactive role,” explains Brent Wolf, CFP®, an advisor at Wealth Enhancement.
Below are key considerations for individuals ages 55 to 65 who are preparing to support elderly parents.
1. Recognize the Early Signs of Cognitive Decline
For many families, cognitive decline in an aging parent typically appears gradually. Early warning signs may include:
- Repeatedly forgetting conversations
- Missing or duplicating bill payments
- Confusion about routine transactions
- Financial decisions influenced by new “friends”
- Unusual wire transfers or unexpected spending changes
Your role is not to diagnose—your role is to observe and speak up early. By addressing concerns promptly, you, your family, and your advisory team can potentially help mitigate the risk of future financial or cognitive harm.
2. Put Durable Power of Attorney and a Trusted Contact in Place
If a parent becomes cognitively impaired without a durable power of attorney, families often face a costly, lengthy conservatorship process. GoDaddy employees can address this by planning ahead.
Consider getting the following key documents in place:
- A trusted contact authorization
- Durable Power of Attorney for finances
- HIPAA releases and health care power of attorney
- Updated beneficiary designations, wills, and trusts
These steps can help reduce uncertainty and lessen the risk of financial exploitation should a parent become more vulnerable.
3. Prepare for Health Care Shock: Medicare Has Gaps
Many households are surprised by how much Medicare does not cover. Common out-of-pocket costs include:
- Long-term custodial care (memory care, assisted living, in-home support)
- Prescription drugs
- Private caregivers and care managers
- Out-of-pocket deductibles and co-pays
To plan effectively, GoDaddy employees should understand:
- What your parents’ insurance covers
- Their likely care expenses
- Whether self-funding or long-term care strategies may fit
- Whether Medicaid planning (with its five-year look-back) should begin early
Health care decisions become more urgent if cognitive decline is a concern.
4. Guard Your Parents Against Financial Abuse
Financial abuse is a growing threat for older adults—including parents of GoDaddy employees. Common scams include:
- Romance schemes
- Fake IRS, FedEx, or government calls
- “Grandchild in trouble” scams
- Caregiver misconduct
- Pressure from acquaintances or distant relatives
- Fraudulent investment pitches
Adult children often hesitate to intervene, but silence can increase risk. Advisors can help monitor accounts, identify unusual activity, and place temporary holds when needed.
5. Organize the “Invisible” Parts of Their Financial Life
By age 80, even financially experienced parents may struggle to keep up with routine obligations such as:
- Required minimum distributions
- Quarterly tax payments
- Charitable documentation
- Insurance renewals
- Online passwords
- Property tax deadlines
- Portfolio withdrawal planning
Advisors can help reduce errors by automating tasks, consolidating accounts, and simplifying processes.
6. Bring the Entire Family Into the Conversation Early
The most challenging situations often arise when adult children learn of issues only after a crisis. GoDaddy employees may benefit from:
- Annual family meetings
- Clear conversations about parents’ wishes
- Defined caregiving and financial roles
- Discussions around independence and dignity
Proactive communication may helps mitigate conflict and avoid last-minute decisions during emergencies.
7. Prepare Yourself Emotionally and Financially
Caring for aging parents can influence:
- Retirement timing
- Your ability to continue working
- Your cash flow
- Your mental and emotional resilience
Advisors can help you develop:
- A dedicated “parent care fund”
- Tax-efficient withdrawal strategies
- Cash flow outlines that factor in elder care
- Estate plans that reflect multigenerational needs
With thoughtful planning, supporting your parents does not have to disrupt your retirement goals—even for GoDaddy employees navigating complex benefits.
8. Build a Team-Based Approach
Families caring for elderly parents often benefit from a coordinated team that may include:
- A financial advisor
- An attorney with experience working with seniors
- Tax specialist
- Geriatric care manager
- Estate planning attorney
- Health care advocates
Working together, these professionals can help manage risk for both parents and adult children through a unified strategy.
Conclusion
Aging is inevitable—but it does not have to create chaos. Early planning, while parents are still capable, can lessen emotional strain, help minimize family conflict, and ideally reduce the likelihood of financial harm.
“The best gift you can give your aging parents is structure, clarity, and a financial advocate who supports them when they can no longer support themselves,” says Brent Wolf.
For GoDaddy employees ages 55 to 65, now is the time to act.
Taking the Next Step
The Retirement Group can help you design a Parent Care Plan that includes financial oversight, health care review, legal preparation, and fraud monitoring.
To speak with a team member who can guide you through each stage of the process, call
(800) 900-5867
.
We are here to support you, your parents, and your family through every stage of life.
The GoDaddy 401(k) plan is a retirement savings plan that allows employees to save a portion of their paycheck on a pre-tax or after-tax basis to help prepare for retirement.
How can I enroll in the GoDaddy 401(k) plan?
Employees can enroll in the GoDaddy 401(k) plan through the company's benefits portal during the open enrollment period or after they become eligible.
Does GoDaddy offer a company match for the 401(k) contributions?
Yes, GoDaddy offers a company match for employee contributions to the 401(k) plan, which helps to enhance retirement savings.
What is the eligibility requirement for the GoDaddy 401(k) plan?
Generally, all full-time employees at GoDaddy are eligible to participate in the 401(k) plan after completing a certain period of service, as outlined in the plan documents.
Can I change my contribution percentage to the GoDaddy 401(k) plan at any time?
Yes, employees can change their contribution percentage to the GoDaddy 401(k) plan at any time through the benefits portal.
What investment options are available in the GoDaddy 401(k) plan?
The GoDaddy 401(k) plan offers a variety of investment options, including mutual funds, index funds, and target-date funds, allowing employees to choose based on their risk tolerance.
How often can I review my GoDaddy 401(k) account?
Employees can review their GoDaddy 401(k) account at any time through the online portal, which provides real-time updates on account balances and investment performance.
What happens to my GoDaddy 401(k) plan if I leave the company?
If you leave GoDaddy, you have several options for your 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it in the GoDaddy plan if eligible.
Are there any fees associated with the GoDaddy 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the GoDaddy 401(k) plan, which are disclosed in the plan documents.
Can I take a loan against my GoDaddy 401(k) plan?
Yes, GoDaddy allows employees to take loans against their 401(k) balance, subject to specific terms and conditions outlined in the plan.
With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Pension Plan Name: GoDaddy does not offer a traditional defined benefit pension plan. Instead, the company provides a 401(k) plan.
Years of Service and Age Qualification: Not applicable, as GoDaddy does not have a defined benefit pension plan.
Pension Formula: Not applicable.
Source Document and Page Number: Information not applicable as GoDaddy does not have a traditional pension plan.
401(k) Plan:
401(k) Plan Name: GoDaddy 401(k) Plan.
Qualification Criteria: Employees are eligible to participate in the 401(k) plan after 30 days of employment. Employees must be at least 21 years old to enroll.
401(k) Plan Details: GoDaddy offers a match contribution of up to 4% of an employee's eligible pay. The plan also includes a range of investment options and automatic enrollment.
GoDaddy announced a significant restructuring plan in early 2024. The company revealed that it would be reducing its workforce by approximately 10% to streamline operations and improve efficiency. This decision was influenced by the need to adapt to the shifting economic landscape, including evolving tax policies and investment challenges. Given the current political environment, such restructuring news is crucial for stakeholders as it reflects broader trends in corporate adjustments to economic pressures.
In addition to layoffs, GoDaddy has made changes to its employee benefits package. The company has reduced some healthcare benefits and adjusted its 401(k) matching contributions. These changes come in response to rising operational costs and a need to align expenses with revenue. The modification in benefits and retirement plans is significant as it highlights how companies are adjusting their compensation structures amidst fluctuating economic conditions and potential future tax impacts.
GoDaddy provides stock options and RSUs as part of its compensation package. GoDaddy grants these equity incentives to employees based on their role and performance. GoDaddy generally issues these as part of long-term incentive plans to attract and retain talent.
Company Website: GoDaddy’s official site for health benefits and employee resources.
Annual Reports: Look into GoDaddy’s annual reports or financial disclosures that might include information on employee benefits.
HR or Benefits Sites: Websites like Glassdoor or Indeed for employee reviews and insights on benefits.
News Outlets: Reliable business news sources for any recent changes or updates to their health benefits.
Industry Reports: Publications or industry reports that might detail benefits practices and comparisons.
1. GoDaddy Official Website
Health Insurance: GoDaddy offers comprehensive health insurance plans, including medical, dental, and vision coverage. The company typically covers a significant portion of the premiums for employees.
Wellness Programs: Includes mental health support, fitness programs, and wellness stipends.
Acronyms: HSA (Health Savings Account), FSA (Flexible Spending Account), EAP (Employee Assistance Program).
2. Glassdoor
Reviews: Employees have reported positive experiences with GoDaddy’s health benefits, highlighting the company's support for mental health and work-life balance. There is also appreciation for the variety of plan options available.
Benefits: Includes medical, dental, and vision insurance. Some employees mention additional perks like gym memberships and wellness incentives.
3. Indeed
Insights: GoDaddy provides a range of health benefits including medical insurance with several plan options. Employees note that GoDaddy also offers a competitive benefits package compared to industry standards.
Updates: Any recent changes or updates might be reflected in employee reviews or company announcements on this site.
4. Business News Outlets
Recent Changes: There have been no major public announcements regarding changes to GoDaddy’s health benefits in 2023 or 2024. However, companies often update benefits annually, so recent changes might be more subtle or internal.
5. Industry Reports
Comparisons: GoDaddy’s benefits are competitive within the tech industry. They are known for offering robust health benefits as part of their overall employee value proposition.
Recent Employee Healthcare News:
2023: GoDaddy expanded its telehealth services, making it easier for employees to access medical consultations remotely.
2024: The company introduced a new wellness program that includes virtual mental health counseling and increased stipends for fitness-related expenses.
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