Google is working with Trustmark to offer a life insurance policy with an LTC rider. This plan is different from the Genworth LTC plan that has been a part of Google’s benefits for years. The Genworth plan was NOT guaranteed issue which means underwriting was on an individual basis, delaying the approval process by weeks or months.

The Trustmark policy is “guaranteed issue” which means Googlers (including those with pre-existing conditions that might otherwise impact eligibility) can enroll without a medical exam. Guaranteed issue is only available to Googlers and is NOT available to family members, however a spouse/partner may apply by completing a brief health questionnaire and/or underwriting.

 A few other rules:

• The Trustmark policy is voluntary and is NOT a Google sponsored benefit. This means you’ll need to communicate directly with Trustmark to enroll.   

• If you have other LTC applications pending or approved, you may still apply with Trustmark. In fact, we would strongly suggest if you have another application that is NOT being issued on a guaranteed issue basis to enroll in this Trustmark plan.

You should have received an email from benefits@google.com a few weeks ago with a link to enroll and with additional information.

Open enrollment is from September 23rd through October 7th, 2021. Do NOT miss this short window to apply if you don’t already have something in place!

Our baseline suggestion is that if you don’t already have something in force to allow for an opt out of the new WA State LTC tax (CARES Act) later this year, this may be your last opportunity to purchase something for you and/or your partner/spouse. To our knowledge, every insurance carrier has exited Washington state and will resume selling policies after 11/1/2021, the only option to acquire insurance at this point may be through your group.

Remember, you MUST have a policy date prior to 11/1/2021 in order to qualify for the opt out.

Please note that we do not have full information on this offering. This post will be updated as we obtain additional information.

Consilio Wealth Advisors is not affiliated with Google. While CWA communicates with its clients regarding their Google employee benefits, and educates itself on Google’s Benefits, there is no guarantee that the information we have provided is accurate. Google employees are encouraged to contact their employer should they have any questions regarding their specific employee benefits. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

This article should not be construed as a solicitation of insurance or a recommendation to buy insurance. Consilio Wealth Advisors is unaffiliated with Trustmark insurance company. CWA receives no compensation from Trustmark insurance company in any form. The descriptions in this article are based on our current understanding and there is no guaranteed that they are accurate. You are encouraged to fully understand any insurance product before you purchase, and purchasing this insurance product from Trustmark has no liability to CWA. The purchase of any insurance product does not guarantee your opt out of the Washington state LTC tax (CARES ACT). Insurance recommendations are separate from the Advisory Services rendered by CWA. 

The information provided in this article is for educational and informational purposes only and does not constitute investment advice and should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status, or investment horizon. You should consult your attorney or tax advisor.

Consilio Wealth Advisors, LLC ("CWA") is a registered investment advisor. Advisory services are only offered to clients or prospective clients where CWA and its representatives are properly licensed or exempt from licensure.