Essential Steps for Paychex Employees: Planning for the Future of a Child with Disabilities

Healthcare Provider Update: Healthcare Provider for Paychex Paychex partners with various healthcare providers to offer employee health insurance options, including plans through the Affordable Care Act (ACA) marketplace and group health insurance solutions. Their offerings typically feature comprehensive coverage options to align with the diverse needs of their employees. Potential Healthcare Cost Increases in 2026 In 2026, Paychex employees may face significant healthcare cost increases as ACA marketplace premiums are projected to rise sharply, with some insurers estimating hikes exceeding 60%. This surge results from a combination of expiring federal premium subsidies, escalating medical costs, and aggressive rate increases from major insurers. With projections indicating that over 22 million marketplace enrollees could experience average out-of-pocket premium increases of 75% or more, it's crucial for Paychex workers to strategize their healthcare choices to mitigate these potential financial pressures. Click here to learn more

Parents employed in Paychex may relate to how raising a child is expensive and can cost a quarter of a million dollars, not including college. For a child with special needs, that cost can more than double.1 If you’re the parent of a special needs child, it’s vital to ensure your child will continue to be provided for after you’re gone. It can be difficult to contemplate, but with patience, love, and perseverance, a long-term strategy is attainable and can help bring some peace of mind.

Envisioning a Life Without You

Just as every child with special needs is unique, so too are the challenges facing their families when planning for the long term. As an employee of Paychex, you must think about the potential needs of your child. Will they require daily custodial care? Ongoing medical treatments? Will your child live alone or in a group home? Can family members assume some of the care? Answers to these and other questions can help form the vision of what may need to be done to plan for your child’s care.

Planning Your Estate

Without proper planning, your child’s lifetime needs can quickly outstrip your funds. With that under consideration, those in Paychex may want to consider government benefits, such as Supplemental Security Income (SSI) and Medicaid, which your child may qualify for depending on their situation. Because such government programs have low-asset thresholds for qualification, you may want to consider whether to make property transfers to your special needs child.

As an employee of Paychex, you should also make sure you have an up-to-date will that reflects your wishes. Consider creating a special needs trust, the assets of which can be structured to fund your child’s care without disqualifying them from government assistance.2

Involve the Family

All affected family members should be involved in the decision-making process. If at all possible, it’s best to have a united front of surviving family members to care for your child after you’ve passed on.

Identify a Caregiver

In order for a caregiver to make financial and health care decisions after your child reaches adulthood, the caregiver must be appointed as a guardian. Those in Paychex may want to consider how this can take time, so start setting this in motion as soon as you can amidst your busy work schedule.

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To do this, you can write a “Letter of Intent” to the caregiver and family to express your wishes along with information about your child’s care. Paychex parents must acknowledge that although this isn’t a legal document, it may help to communicate your desires. Store this letter alongside your will, in a safe place.

Paychex parents must understand that planning for a child with special needs can be complicated and overwhelming, but you don’t have to do it alone. Working with loved ones and qualified professionals can help you navigate the various facets of this challenge. If we can help, please don’t hesitate to reach out.

1. Policygenius, 2019
2. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.