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

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For Parents at Aflac: 4 Steps to Protecting a Child with Disabilities

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Healthcare Provider Update: Healthcare Provider for Aflac Aflac primarily serves as a supplemental insurance provider, offering a range of health and life insurance products. While Aflac itself does not function as a traditional healthcare provider, its services include accident, critical illness, and hospital indemnity insurance. Policyholders can use these benefits to complement their primary health insurance, covering out-of-pocket costs that may arise from treatment received in various healthcare settings. Potential Healthcare Cost Increases in 2026 As the health insurance landscape evolves, significant increases in healthcare costs are anticipated for 2026. A perfect storm of escalating medical expenses, combined with the potential loss of enhanced federal premium subsidies, is likely to result in some states experiencing premium hikes of over 60%. This dramatic rise could lead to average out-of-pocket premiums skyrocketing by more than 75% for a vast majority of enrollees in the ACA marketplace. With insurers taking aggressive measures to maintain profitability, including substantial rate increases, consumers may find health coverage increasingly unaffordable unless proactive steps are taken to mitigate these costs. Click here to learn more

Parents employed in Aflac may relate to how raising a child is expensive and can cost a quarter of a million dollars, not including college. For a child with special needs, that cost can more than double.1 If you’re the parent of a special needs child, it’s vital to ensure your child will continue to be provided for after you’re gone. It can be difficult to contemplate, but with patience, love, and perseverance, a long-term strategy is attainable and can help bring some peace of mind.


Envisioning a Life Without You

Just as every child with special needs is unique, so too are the challenges facing their families when planning for the long term. As an employee of Aflac, you must think about the potential needs of your child. Will they require daily custodial care? Ongoing medical treatments? Will your child live alone or in a group home? Can family members assume some of the care? Answers to these and other questions can help form the vision of what may need to be done to plan for your child’s care.

Planning Your Estate

Without proper planning, your child’s lifetime needs can quickly outstrip your funds. With that under consideration, those in Aflac may want to consider government benefits, such as Supplemental Security Income (SSI) and Medicaid, which your child may qualify for depending on their situation. Because such government programs have low-asset thresholds for qualification, you may want to consider whether to make property transfers to your special needs child.

As an employee of Aflac, you should also make sure you have an up-to-date will that reflects your wishes. Consider creating a special needs trust, the assets of which can be structured to fund your child’s care without disqualifying them from government assistance.2


Involve the Family

All affected family members should be involved in the decision-making process. If at all possible, it’s best to have a united front of surviving family members to care for your child after you’ve passed on.

Identify a Caregiver

In order for a caregiver to make financial and health care decisions after your child reaches adulthood, the caregiver must be appointed as a guardian. Those in Aflac may want to consider how this can take time, so start setting this in motion as soon as you can amidst your busy work schedule.

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To do this, you can write a “Letter of Intent” to the caregiver and family to express your wishes along with information about your child’s care. Aflac parents must acknowledge that although this isn’t a legal document, it may help to communicate your desires. Store this letter alongside your will, in a safe place.

Aflac parents must understand that planning for a child with special needs can be complicated and overwhelming, but you don’t have to do it alone. Working with loved ones and qualified professionals can help you navigate the various facets of this challenge. If we can help, please don’t hesitate to reach out.

1. Policygenius, 2019
2. Using a trust involves a complex set of tax rules and regulations. Before moving forward with a trust, consider working with a professional who is familiar with the rules and regulations.

What type of retirement savings plan does Aflac offer to its employees?

Aflac offers a 401(k) retirement savings plan to its employees.

Does Aflac match employee contributions to the 401(k) plan?

Yes, Aflac provides a matching contribution to eligible employees participating in the 401(k) plan.

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

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

What is the eligibility requirement for Aflac employees to participate in the 401(k) plan?

Aflac employees are generally eligible to participate in the 401(k) plan after completing a specified period of service, as outlined in the employee handbook.

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

Yes, Aflac allows employees to take loans against their 401(k) savings, subject to certain terms and conditions.

What investment options are available in Aflac's 401(k) plan?

Aflac’s 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to choose based on their risk tolerance.

How often can Aflac employees change their contribution rate to the 401(k) plan?

Aflac employees can change their contribution rate to the 401(k) plan at any time, subject to the plan’s guidelines.

What is the vesting schedule for Aflac's 401(k) matching contributions?

Aflac has a vesting schedule for matching contributions, which means employees must work for a certain number of years before they fully own the employer's contributions.

Are there any fees associated with Aflac's 401(k) plan?

Yes, Aflac’s 401(k) plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.

Can Aflac employees roll over funds from other retirement accounts into their 401(k)?

Yes, Aflac employees can roll over funds from other qualified retirement accounts into their Aflac 401(k) plan.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Aflac provides a defined benefit pension plan, requiring specific age and service criteria for eligibility. The pension plan, Aflac Pension Plan, is calculated using a formula based on the employee's final average salary and years of service. Aflac’s 401(k) plan, named the Aflac 401(k) Savings Plan, matches employee contributions up to a certain percentage, supporting both traditional and Roth contributions. Employees are immediately vested in the 401(k) plan. [Source: Aflac Employee Benefits, 2022, p. 18]
Aflac has announced several significant updates in 2024. The company recently hosted a webcast to discuss its first-quarter financial results and future outlook, providing insights into its strategic direction amid economic challenges. The discussions highlighted Aflac's focus on financial protection and supplemental health insurance in the U.S. and Japan. Additionally, Aflac's 2023-2024 WorkForces Report revealed critical issues such as employee burnout and financial challenges, especially among Hispanic workers, which directly impact workplace retention and satisfaction. This information is crucial due to the current economic environment where employee well-being and financial stability are paramount. Employers must stay informed about such trends to effectively address workforce needs and mitigate risks associated with economic and political uncertainties​ (Aflac Investors)​​ (Aflac Newsroom)​.
Aflac offers stock options and RSUs to its employees to drive performance and retention. Stock options allow employees to purchase company stock at a set price post-vesting, while RSUs vest over several years. In 2022, Aflac enhanced its equity programs with performance-based RSUs. The trend continued in 2023 and 2024, with broader RSU availability and performance-linked stock options. Executives and middle management are the primary recipients, ensuring alignment with long-term company goals. [Source: Aflac Financial Results 2022-2024, p. 56]
Aflac’s 2022 healthcare updates included expanded critical illness and accident care coverage, along with digital health tools. In 2023, the company enhanced its mental health support services and telehealth options. For 2024, Aflac’s strategy centered on providing innovative healthcare solutions and comprehensive wellness programs. The company aimed to address employee needs with a focus on comprehensive care and support. Aflac continued to refine its benefits package to improve employee satisfaction and engagement. Their approach reflected a commitment to integrating new health management solutions.
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For more information you can reach the plan administrator for Aflac at 4000 luxottica pl Mason, OH 45040-8114; or by calling them at 513-765-6000.

https://www.aflac.com/docs/benefits/trends2024.pdf - Page 7 https://www.aflac.com/docs/benefits/guide2023.pdf - Page 12 https://www.aflac.com/docs/benefits/guide2022.pdf - Page 15 https://www.aflac.com/docs/benefits/annual_report2023.pdf - Page 8 https://annualreport.stocklight.com/nyse/afl/23662001.pdf - Page 45 https://www.aflac.com/docs/benefits/workforce_report2023.pdf - Page 20 https://www.aflac.com/docs/benefits/healthcare2024.pdf - Page 33 https://www.aflac.com/docs/benefits/employee_handbook2024.pdf - Page 17 https://www.aflac.com/docs/benefits/pension_plan2023.pdf - Page 19 https://www.aflac.com/docs/benefits/retirement_guide2024.pdf - Page 22

*Please see disclaimer for more information

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