Q) Who was eligible to enroll in the Trustmark plan?
All benefit-eligible faculty and staff were eligible to enroll in the Trustmark plan.
Q) How long do I have to enroll in the Trustmark plan?
SU eligible employees will have until Friday, June 25, 2021 to enroll in the Trustmark LTC benefit. A separate enrollment period will be held from September 1- September 15, 2021 for faculty and staff who were hired after June 1, 2021.
Q) If I enroll in the Trustmark plan, when does coverage begin?
The Trustmark LTC coverage will take effect August 1, 2021 for faculty and staff who enrolled during the June enrollment period. Coverage will take effect October 1, 2021 for faculty and staff who enroll during the new hire enrollment period in September.
Q) How much does the Trustmark plan cost?
Premiums are individually calculated based on a variety of factors including annual salary as of the beginning of the year and age. Please note: you will receive individualized quotes from Trustmark throughout the enrollment process. To see your actual benefit rates you should login to the Trustmark portal.
Q) Does enrolling in the Trustmark LTC benefit impact my current life insurance coverage with SU?
No, enrolling in the Trustmark benefit will not have any impact on your current or future SU life insurance benefits.
Q) Will there be another opportunity to enroll in the Trustmark LTC benefit?
Yes, you will be able to enroll in the Trustmark LTC benefit during SU’s annual open enrollment (occurring in fall 2021). Please note: enrolling in the Trustmark LTC benefit during open enrollment may not be eligible for an exception of the WA Cares Fund payroll tax.
Q) If I sign up for Trustmark and later leave SU, will my LTC policy end?
No, since it is an individual policy, it is portable and belongs to you as long as you continue to make the premium payments. The Trustmark policy will also remain available to you as an individual policy if you move out of Washington State. Please note: the Trustmark LTC policy is not portable out of the country.
Q) If I enroll in the Trustmark plan will Seattle University automatically to be able to remove the payroll tax for the WA Cares Fund from my paycheck?
No, employees are required by the state to complete an exemption request application between Oct 1 and December 31, 2021. The state will then provide an exemption certificate that can be presented to SU payroll.
Q) When do I need to be enrolled in a qualified LTC plan by to be eligible for the tax exemption?
The state has stated that individuals who have a qualified LTC in effect prior to November 1, 2021 will be eligible to apply for the tax exemption.
Q) If I don’t need to be enrolled in an individual plan until November 1, why is the Trustmark benefit effective August 1?
As the WA Cares Fund applies to all Washington employees, most employers are working to offer LTC benefits as a way for their employees to apply for exception from the payroll tax. To implement new LTC benefits before November 1, while also accommodating the influx of new employer plans, LTC vendors including Trustmark are requiring earlier enrollment periods and coverage effective dates.
Q) If I enroll in the Trustmark LTC benefit, can I opt out of the benefit in the future?
Yes, if you make the decision to opt out of the Trustmark benefit in the future you will need to contact Trustmark directly to cancel your plan.
Q) How do I opt out of the WA Cares Fund if I opt into Trustmark or have my own LTC insurance?
At this time, the state has shared that exemption applications will be available beginning October 1, 2021. The state has not provided detailed instruction on how to apply for exemption of the payroll tax if enrolled in a qualified LTC plan. HR will be providing further instruction on the exemption process as we receive clarification from the state.
Q) If I sign up for Trustmark or another private plan, and then change my mind can I get back into the WA Cares Fund?
No, the state currently indicates that once someone opts out that they cannot rejoin later.
Q) Is there something wrong with the WA Cares Fund benefit?
The WA Cares Fund benefit is one good approach to addressing what is often a critical need for long term care. Since it is designed as a fund, similar to unemployment, it does not have many of the characteristics of an insurance plan that might be important to some individuals such as personal ownership, portability, access outside the US, cash payouts, flexibility of fund payments, etc.
Q) Does Seattle University contribute to the payroll tax or to the Trustmark premium?
No, the payroll tax applies only to employees and Seattle University is not subsidizing the premiums for the Trustmark plan. Trustmark is offering a lower group rate to SU employees, however.
Q) Does Seattle University profit from allowing Trustmark to market its product to Seattle University employees?
No, Seattle University does not receive any payments or renumeration from this arrangement. It is being provided as a courtesy to our employees.
Q) How much is the WA Cares Fund payroll tax?
The payroll tax is .58% of all W2 earnings. You can estimate your annual contribution to the WA Cares Fund by multiplying your annual salary by .58%
Examples of estimate monthly payroll contributions are below.
|
Annual Salary |
Estimated Monthly Payroll Contribution |
|
|
$50,000 |
$24.17 |
|
|
$100,000 |
$48.33 |
|
|
$150,000 |
$72.50 |
|
|
$200,000 |
$96.67 |
|
|
$300,000 |
$145.00 |
|
|
$400,000 |
$193.33 |
Q) Does the new payroll tax for the WA Cares Fund apply to student workers or temporary employees?
Yes, the new payroll tax will be applied to all W-2 eligible workers in the state, with some limited exceptions.
Q) What if I do not enroll in the
If I do not enroll in the Trustmark plan or purchase my own insurance will I be automatically included in the WA Cares Fund?
Yes, all Washingtonians are included in the WA Cares Fund unless they receive an exemption.
Q) What if I am a student worker or not benefits eligible but want to purchase LTC coverage?
Unfortunately, SU cannot facilitate the open enrollment or premium collection process for non-benefits eligible employees but there are many reputable carries in the marketplace offering private coverage. The policy must be in force prior to November 1, 2021 to qualify for the exemption. For more information here is one site to explore: https://www.ltc-associates.com/
Q) Does Seattle University contribute to the payroll tax?
No, the payroll tax applies only to employees.
Q) Are there any available resources to help me navigate this decision?
Q) What are my options if I don’t want the Trustmark plan?
You can explore the marketplace for an individual plan in order to apply for the exemption. The state will consider any qualified LTC plan in processing the exemption. The state website details the elements that will be used when considering if a plan is qualified or not. For more information like this site to explore more options: https://www.ltc-associates.com/. Please note: you may be required to submit evidence of insurability for an individual policy.
Q: What if I already have my own LTC insurance?
The state will consider any qualified LTC plan in processing the exemption. The state website details the elements that will be used when considering if a plan is qualified or not.
Q) If I do not enroll in the Trustmark plan or purchase my own insurance will I be automatically included in the WA Cares Fund?
Yes, all Washingtonians are included in the WA Cares Fund unless they receive an exemption.
Q) Are there any available resources to help me navigate this decision?
Effective January 1, 2022 the new Washington Cares Fund (formerly known as the WA Long-Term Care Act) will go into effect and result in a new payroll tax for all W-2 eligible employees in the state of Washington. This tax will be used to establish a pool to fund a long-term care benefit for Washingtonians who meet all eligibility requirements as spelled out by the law. There is a provision for employees to apply for a one-time exemption to opt out of paying the tax if they have a pre-existing qualified long-term care plan in effect by November 1, 2021.
Due to this opt out provision and considering some of the limitations of the new law (e.g., benefit is not portable outside of the state) Seattle University has partnered with Trustmark, a respected and highly rated insurer, to offer an opportunity for Seattle University employees to enroll in a personal long-term care (LTC) plan. Enrollment in this plan would allow SU employees to apply for an exemption from the new payroll tax with the state. We encourage all current benefits eligible employees to research the Washington Cares Act and the Trustmark plan to determine which makes the most sense for your long-term care needs.
Benefit-eligible faculty and staff will have the opportunity to enroll in the Trustmark LTC + Life Insurance benefit during a special enrollment period held June 1–June 17, 2021. During the enrollment period you will receive additional information to help aid in your decision as well as access to a portal if you choose to enroll in the Trustmark long-term care plan.
This benefit will help pay for services to care for you when you can no longer perform everyday activities on your own. These activities can range from help at home with meal preparation and housekeeping to personal care services like bathing, dressing, eating and moving around. Care is typically received at home, in a nursing home or in an assisted living facility, which is a home-like setting that offers safety and security.
As we age, the likelihood of needing LTC increases and the cost of home care can exceed $43,000/year. Your health insurance, disability benefit and Medicare do not cover most LTC costs. Also, LTC isn’t just for the elderly. An accident or prolonged illness means the need for LTC services can happen to anyone at any age.
When you enroll, you receive one policy with two benefits: long-term care protection if you need care and life insurance protection for you and your family.
As life insurance, the Trustmark benefit protects you and your family in the case of an event requiring long-term care. The money can be used however it is needed. The benefit is most often used to pay for mortgage or rent, education for children and grandchildren, retirement, family debt and final expenses. Employees and their spouse or partner may select a life insurance amount up to $150,000. Please note this benefit will not replace your existing life insurance—you can be enrolled in both plans.
For long-term care under the Trustmark plan, if you become chronically ill and qualify for benefits, you can access 4% of the selected life benefit per month, and monthly payments are available up to the amount the employee chooses for the life insurance benefit. Additionally, the plan has a cash-out value and can be accessed as a death benefit if long-term care is not needed or if the benefit is not fully used.