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

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Alight Professionals: Do Not Let Job Loss Ruin Your Livelihood

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Healthcare Provider Update: Alight Solutions is partnered with various healthcare providers to support its employee benefits initiatives, with national insurers such as UnitedHealthcare and Cigna frequently featured in their offerings. Alight focuses on delivering customized health plans that cater to the diverse needs of its workforce while emphasizing cost-efficiency and quality of care. As we look ahead to 2026, Alight employees should brace for notable increases in healthcare costs. With projections indicating premiums for Affordable Care Act (ACA) plans could surge by as much as 66% in some states, the impact will be significant. Additionally, the anticipated expiration of enhanced federal subsidies could exacerbate out-of-pocket expenses, with many households potentially facing a chilling 75% rise in monthly premiums. Amidst this landscape, it is crucial for employees to carefully review benefit changes and explore strategies to manage increasing healthcare expenses effectively. Click here to learn more

In the ever-evolving corporate landscape, experiencing a job displacement is not uncommon. The ramifications of such an event are manifold, impacting not only one's financial position but also their emotional and physical well-being. For high-achieving Alight professionals, this experience can be particularly jarring. While some may view it as an opportunity for a new beginning, others may find the experience deeply unsettling.

Emotional and Physical Manifestations

One cannot underestimate the myriad of emotional responses that accompany job displacement:

Emotional Responses  : These might range from initial shock and disbelief to more profound feelings like anxiety, irritability, anger, and frustration. As the reality sinks in, emotions like sadness, fear, feelings of worthlessness, and a loss of self-esteem might also emerge. Shame is another by-product, especially for those who equate their professional standing with personal worth.

Physical Responses  : The emotional turmoil often manifests physically. Common symptoms include fatigue, frequent headaches, significant weight fluctuations, disturbances in sleep patterns, gastrointestinal distress, muscle pain, and even nausea.

These responses, although distressing, are quite normal given the circumstances. However, understanding how to navigate them can pave the way for a more resilient comeback.

Strategies for Navigating Job Displacement

1.   Foster Strong Bonds  : Maintain open channels of communication with friends and family. Sharing one's feelings and concerns not only alleviates stress but also provides a platform for understanding and empathy.

2.   Prioritize Physical Well-being  : As the adage goes, a healthy body houses a healthy mind. Regular exercise serves as a powerful counter to stress. Moreover, mindful eating and adequate sleep are paramount in maintaining one's overall health.

3.   Self-compassion  : Engage in activities that foster relaxation and well-being. Whether it's a leisurely stroll, a comforting bath, meditation, prayer, or enjoying music, these actions can serve as a balm for the stressed mind.

4.   The Power of Writing  : Documenting one's journey, thoughts, and emotions can be therapeutic. It can be through journaling, letter-writing, or even simple list-making. This process can offer clarity and a sense of direction.

5.   Maintain an Optimistic Mindset  : Being mindful of one's inner dialogue is crucial. Counter negative self-talk with positive affirmations. Remember, the course of life is replete with ups and downs. Holding onto hope and envisioning a brighter future can propel one forward. It's vital to internalize that adversities are transient – 'this too shall pass'.

Consulting Professional Aid

Job displacement can trigger prolonged feelings of anxiety and depression, leading to disruptions in daily life, including sleep and leisure activities. Recognizing and addressing these emotions is vital.

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Should these feelings intensify or linger, consulting a medical or mental health professional might be prudent. Given the strain job displacement can exert on personal relationships, seeking counseling might offer beneficial perspectives and coping strategies.

In conclusion, while job displacement can be a challenging episode in one's life, it is essential to remember that it's a phase, not a permanence. With the right tools and mindset, one can not only navigate this period but also emerge stronger, more resilient, and prepared for the next chapter of their professional journey.

An additional consideration for those nearing or in Alight retirement is the potential impact of layoffs on one's financial security. According to a study by the Urban Institute in 2020, older workers, specifically those aged 50 and above, are less likely to regain employment after a job loss compared to their younger counterparts, which can have significant implications for retirement planning. The emotional toll of this realization is profound, as concerns about financial stability in the golden years come to the fore. To mitigate these feelings, it's imperative to reassess and possibly recalibrate retirement plans, ensuring that emotional well-being is aligned with financial preparedness.

Navigating the emotional aftermath of a layoff is akin to steering a ship through turbulent waters after decades of smooth sailing. Just as an experienced captain leans on his knowledge, instruments, and crew to weather the storm and find calm seas again, a seasoned Alight professional can rely on emotional coping strategies, financial recalibrations, and supportive networks to traverse the challenges of job displacement, ensuring a safe and fulfilling journey into the horizon of Alight retirement.

What is the primary purpose of Alight's 401(k) Savings Plan?

The primary purpose of Alight's 401(k) Savings Plan is to help employees save for retirement through tax-advantaged contributions.

How can Alight employees enroll in the 401(k) Savings Plan?

Alight employees can enroll in the 401(k) Savings Plan through the company’s HR portal or by contacting the benefits department for assistance.

Does Alight provide a matching contribution to the 401(k) Savings Plan?

Yes, Alight offers a matching contribution to the 401(k) Savings Plan to encourage employees to save for their retirement.

What types of investment options are available in Alight's 401(k) Savings Plan?

Alight's 401(k) Savings Plan includes a variety of investment options, such as mutual funds, target-date funds, and stable value funds.

Can Alight employees change their contribution percentage to the 401(k) Savings Plan?

Yes, Alight employees can change their contribution percentage at any time by accessing their account online or contacting HR.

What is the minimum age requirement to participate in Alight's 401(k) Savings Plan?

The minimum age requirement to participate in Alight's 401(k) Savings Plan is typically 21 years old.

Are there any fees associated with Alight's 401(k) Savings Plan?

Yes, Alight's 401(k) Savings Plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

How often can Alight employees make changes to their investment allocations in the 401(k) Savings Plan?

Alight employees can typically make changes to their investment allocations in the 401(k) Savings Plan on a quarterly basis or as specified in the plan guidelines.

What happens to Alight employees' 401(k) Savings Plan when they leave the company?

When Alight employees leave the company, they can choose to roll over their 401(k) savings into an IRA or a new employer's plan, or they may cash out their account, subject to taxes and penalties.

Is there a loan option available within Alight's 401(k) Savings Plan?

Yes, Alight's 401(k) Savings Plan may offer a loan option, allowing employees to borrow against their savings under certain conditions.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Alight has announced a restructuring plan that includes significant layoffs, impacting about 10% of its workforce. The company is shifting its focus to digital solutions and outsourcing to streamline operations. Additionally, they are revising their benefits and pension plans to align with the new business model.
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For more information you can reach the plan administrator for Alight at 4 Overlook Point Lincolnshire, IL 60069; or by calling them at (224) 737-7000.

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