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New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

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GoDaddy Employees: Discover Which States Offer the Best Environment for a Stress-Free Retirement!

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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 Click here to learn more

The contemporary era presents a myriad of stressors, from the unpredictable housing market to escalating grocery prices. Indeed, the intensity of stress an individual encounters can significantly hinge on their geographical location, as recent research reveals.

A comprehensive study conducted by WalletHub earlier in the year embarked on the ambitious task of ranking the “most and least stressed” states across the United States. This expansive report utilized a comparative analysis across the 50 states, examining them through the lens of 41 distinct metrics. These indicators encompassed a range of factors including the unemployment rate, income growth trajectory, separation and divorce rates, mental health statistics, and the affordability of medical consultations.

In order to distill these broad metrics into actionable insights for GoDaddy professionals, the states were evaluated based on four primary dimensions of stress:

  1. Work-related stress,
  2. Financial stress,
  3. Family-related stress, and
  4. Health and safety-related stress.

This intricate analysis was fortified by data sourced from reputable institutions such as the U.S. Census Bureau, the Bureau of Labor Statistics, and the Centers for Disease Control and Prevention, among others.

In an intriguing revelation, the report not only provided a holistic stress ranking but also delved into specific categories like the average number of sleep hours residents get each night, the number of practicing psychologists per capita, and the average weekly work hours.

Mississippi emerged at the forefront of this study, unfortunately bearing the title of the most stressed state. It was particularly impacted by financial stress despite boasting the lowest cost of living in the country. Contrasting its affordable living, it faces challenges with educational attainment and workforce productivity, alongside having one of the most substantial rates of worker migration, as detailed by a CNBC report.

Conversely, the spectrum's other end highlighted states like Utah, Connecticut, and South Dakota, known for their comparatively low stress levels. Interestingly, states like Hawaii and Florida, often celebrated for their high happiness indices, did not feature in the top ten of this list.

Topping the chart as the epitome of tranquility was Minnesota, recognized as the least stressed state. Minnesotans reported minimal stress related to finances and family. Moreover, Minnesota was celebrated for offering its residents nearly the highest average sleep hours, trailing only behind Colorado. Famously referred to as the “Land of 10,000 Lakes,” Minnesota has also been acclaimed as one of the prime states for both living and professional engagement, as per CNBC’s annual assessment.

Following closely was Utah, securing the second position. Remarkably, Utah recorded the fewest work hours per week on average, a low poverty rate, and the nation’s lowest divorce statistics. In an adjunct study by WalletHub, Utah was distinguished as the happiest state, partly owing to its impressive volunteer rate standing at 40.7% - a stark contrast to Florida’s significantly lower rate.

New Hampshire consolidated the top three, standing out with the lowest proportion of adults in fair or poor health and an impressive average credit score of 729, as per CNBC Select. It boasts one of the lowest poverty and crime rates per capita. The city of Nashua in Hillsborough County, New Hampshire, in particular, enjoys the reputation of being the safest in the country, making it one of the state's most desirable living destinations, according to Niche. Further, Census Bureau data indicates that New Hampshire ranks among the wealthiest and most educated in the nation, enhanced by its lack of income tax on wages and sales tax.

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A crucial aspect contributing to Minnesota's low stress levels, particularly relevant to GoDaddy professionals nearing or in retirement, is the state's robust healthcare system. According to U.S. News & World Report (2021), Minnesota is ranked 3rd in healthcare access and 11th in healthcare quality nationwide, ensuring its residents, especially those in older demographics, have ample access to superior medical care. This accessibility is paramount for those transitioning from active working life, as they can rely on high-quality healthcare services, a factor significantly alleviating health-related stress often accompanying this life stage.

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Navigating the states of America in search of the ideal place to retire is akin to sifting through a box of assorted chocolates, each piece uniquely flavored with different fillings representing various lifestyle factors. Minnesota, in this assortment, is the coveted dark chocolate truffle — rich in quality healthcare, laden with the sweetness of plentiful sleep, and enrobed in the smooth texture of low financial and family-related stress. Just as dark chocolate is known for its health benefits and stress-reducing antioxidants, Minnesota offers a blend of life-enhancing qualities that melt away worries, making it the choice morsel for those seasoned professionals stepping away from their bustling GoDaddy careers into a phase of life where tranquility and well-being become the ultimate luxury. 

What is the GoDaddy 401(k) plan?

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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For more information you can reach the plan administrator for GoDaddy at , ; or by calling them at .

https://www.pbgc.gov/ https://www.thelayoff.com/

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