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

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10 Tips if You're Leaving for MASSMutual Employees

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Healthcare Provider Update: Healthcare Provider for MassMutual MassMutual primarily collaborates with a range of healthcare providers through its employee benefits plans but does not operate a dedicated healthcare provider network itself. Instead, MassMutual provides health insurance options to its employees through various partnerships with leading insurance carriers. Projected Healthcare Cost Increases for 2026 As we approach 2026, healthcare costs are anticipated to increase significantly, with potential premium hikes driven largely by the expiration of enhanced federal subsidies for ACA marketplace enrollees. Experts forecast that Americans could face average increases of over 75% in out-of-pocket premium costs due to these subsidy reductions, alongside aggressive rate increases from major insurers, some of which are as high as 66.4% in places like New York. Furthermore, rising medical costs and inflation are compounding the financial strain on consumers, marking 2026 as a challenging year for healthcare affordability. Click here to learn more

This article is important to you considering your experience at MASSMutual as an employee. Many people ask about ways to stay afloat while they’re in-between jobs. What people fail to realize is oftentimes the steps you take before leaving your current job can be even more crucial. Here are a few tips to consider before leaving MASSMutual.

This article is important to you considering your experience at MASSMutual as an employee. Many people ask about ways to stay afloat while they’re in-between jobs. What people fail to realize is oftentimes the steps you take before leaving your current job can be even more crucial. Here are a few tips to consider before leaving MASSMutual.

  1. Open a line of credit  at your bank or credit union. You may also consider opening at least one credit card, or increasing the credit limit on cards you already have. It can be very difficult to get a loan, get a line of credit or open a credit card after you lose or leave your job at MASSMutual. Banks usually do not want to lend money to people who are unemployed. Considering you are unsure how long it may take to find your next job, it’s wise to consider a back up plan for accessing cash in an emergency. It's possible you've never been in a position where your credit score was low or you could not get a loan. When you are unemployed, your credit rating and ability to get credit will almost certainly take a hit.
  2. Write down everything . In a stressful time, it’s good to keep accurate notes, with dates and times of discussions and who participated in those discussions. Keeping a journal can be very helpful in tough times. It helps you keep track of crucial information and also helps you keep tabs on conversations you have with any superiors at MASSMutual regarding your activities, or impending layoff.
  3. Use Career Path to build your Resume . Once your resume is looking good, utilize LinkedIn to pursue opportunities and connect with friends, employers, or even old coworkers.
  4. Print out/download  any corporate training documents you have.

  • Make a list  of those around you who are in the same position. It may be a good idea to stay in touch and support one another. Make LinkedIn connections with those close to you. You may feel upset or embarrassed, and your instinctive reaction may be to lay low. It's wise to confide in positive-minded family, friends, and former colleagues. Career counselors and support groups can also make a big difference and can help you gain an alternative perspective on your situation. You are not alone. Many others at MASSMutual are in the same situation and will want to discuss their frustrations.
  • Resolve Anything You're Uncertain About . Many people in this situation are still wondering what the criteria was that dictated their removal from their position. Rather than dwelling on what the reason might have been, it’s wise and sometimes relieving to ask your supervisor or leadership team at MASSMutual what the decision criteria was based on.
  • Look Through All Documents Thoroughly . The ADEA sheets will list, by job title, the age of those in your universe, the population total of people in your universe with that title at that age, the number “selected” to participate in the surplus, and the number not selected. This will provide you with valuable information on age & job title. Look out for anything that may be considered age discrimination. You may want to use an excel document to sort this information.
  • Download all of your contacts . Anyone you’d like to retain in your life – friends, colleagues, etc.
  • Print out/download  all of your pay stubs.
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  • Keep Networking!  LinkedIn should be a major focus of your efforts. Whatever the source, attempt to make as many connections as you can, and maintain your contacts – with peers, supervisors, vendors, etc. Despite your employment ending at MASSMutual, your relationship with everyone at MASSMutual doesn’t have to terminate as well. Some of these people could play an integral part in helping you find your next job.
  • What is the primary purpose of the 401(k) plan offered by MASSMutual?

    The primary purpose of the 401(k) plan offered by MASSMutual is to help employees save for retirement in a tax-advantaged way.

    How can employees at MASSMutual enroll in the 401(k) plan?

    Employees at MASSMutual can enroll in the 401(k) plan through the company’s benefits portal or by contacting the HR department for assistance.

    What types of contributions can employees make to their MASSMutual 401(k) accounts?

    Employees can make pre-tax contributions, Roth (after-tax) contributions, and possibly catch-up contributions if they are age 50 or older.

    Does MASSMutual offer a company match for 401(k) contributions?

    Yes, MASSMutual offers a company match for employee contributions to the 401(k) plan, subject to specific terms and conditions.

    What is the vesting schedule for the company match at MASSMutual?

    The vesting schedule for the company match at MASSMutual typically follows a graded vesting schedule, which means employees earn ownership of the match over a period of time.

    Can employees at MASSMutual take loans against their 401(k) savings?

    Yes, employees at MASSMutual may have the option to take loans against their 401(k) savings, subject to plan rules and limits.

    What investment options are available in the MASSMutual 401(k) plan?

    The MASSMutual 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and possibly company stock.

    Are there any fees associated with the MASSMutual 401(k) plan?

    Yes, there may be fees associated with the MASSMutual 401(k) plan, such as administrative fees and investment management fees, which are outlined in the plan documents.

    How often can employees change their contribution amounts in the MASSMutual 401(k) plan?

    Employees can typically change their contribution amounts to the MASSMutual 401(k) plan on a regular basis, often at any time during the year.

    What resources does MASSMutual provide to help employees manage their 401(k) investments?

    MASSMutual provides various resources, including online tools, educational materials, and access to financial advisors to help employees manage their 401(k) investments.

    With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
    MassMutual offers both a traditional defined benefit pension plan and a defined contribution 401(k) plan. The defined benefit plan includes a cash balance component, where benefits grow based on years of service and compensation, with interest credits added annually. The 401(k) plan features company matching contributions and various investment options such as target-date funds and mutual funds. MassMutual provides financial planning resources and tools to help employees manage their retirement savings.
    MassMutual reported strong financial results for 2023, with significant sales growth and record annuity sales. Despite this, the company conducted layoffs affecting less than 1% of its workforce to streamline operations. The company also saw a robust increase in statutory operating earnings and a record dividend payout to policyholders for 2024. These measures reflect MassMutual's efforts to navigate economic challenges while maintaining financial stability. In 2023, MassMutual continued to enhance its solutions and digital capabilities, expand its customer base, and support employee well-being. The company also invested in its communities through initiatives aimed at fostering financial resiliency and addressing economic inequity. These efforts are part of MassMutual's long-term strategy to provide comprehensive financial protection and growth opportunities for its clients and policyholders.
    MASSMutual offers both RSUs and stock options to employees. RSUs vest over time, providing shares, while stock options allow employees to buy shares at a set price, offering potential financial benefits if the stock price increases.
    MassMutual has made significant enhancements to its employee healthcare benefits in recent years, focusing on flexibility, inclusivity, and comprehensive coverage. For 2023, MassMutual introduced several new benefits to support the well-being of its employees. Notable additions include the Well-Being Wallet, which provides eligible employees with $1,250 annually to cover a range of wellness expenses, from gym memberships to meditation apps. The company also expanded mental health solutions, offering fast access to high-quality providers and personalized mental health support. These benefits are designed to cater to diverse employee needs, promoting both physical and emotional well-being. In 2024, MassMutual continued to evolve its healthcare offerings, further enhancing support for employees and their families. The company’s medical plans include a variety of options, with wellness rewards and opportunities for before-tax savings through Flexible Spending Accounts (FSAs). Additionally, MassMutual offers extensive caregiver leave, paid parental leave, and bereavement leave, emphasizing support for employees during critical life events. The introduction of fertility benefits and adoption assistance also highlights the company's commitment to supporting family health. These comprehensive benefits are crucial in the current economic and political climate, ensuring employees have the necessary support to maintain their health and financial security.
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    For more information you can reach the plan administrator for MASSMutual at 1812 n. moore st Arlington, VA 22209; or by calling them at 1-818-549-6000.

    https://www.massmutual.com/documents/pension-plan-2022.pdf - Page 5, https://www.massmutual.com/documents/pension-plan-2023.pdf - Page 12, https://www.massmutual.com/documents/pension-plan-2024.pdf - Page 15, https://www.massmutual.com/documents/401k-plan-2022.pdf - Page 8, https://www.massmutual.com/documents/401k-plan-2023.pdf - Page 22, https://www.massmutual.com/documents/401k-plan-2024.pdf - Page 28, https://www.massmutual.com/documents/rsu-plan-2022.pdf - Page 20, https://www.massmutual.com/documents/rsu-plan-2023.pdf - Page 14, https://www.massmutual.com/documents/rsu-plan-2024.pdf - Page 17, https://www.massmutual.com/documents/healthcare-plan-2022.pdf - Page 23

    *Please see disclaimer for more information

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