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Healthcare Provider Update: Healthcare Provider for Henry Schein Henry Schein, Inc. is recognized as the world's largest provider of healthcare solutions for office-based dental and medical practitioners. The company distributes a wide range of products, including dental and medical supplies, equipment, and pharmaceuticals, making it a key player in the healthcare market. Potential Healthcare Cost Increases in 2026 As 2026 approaches, healthcare costs are projected to rise significantly, particularly for those enrolled in Affordable Care Act (ACA) marketplace plans. Record premium hikes are expected, with some states eyeing increases exceeding 60%. This steep rise is primarily driven by escalating medical costs, the looming expiration of federal premium subsidies, and aggressive rate increases from major insurers. Without action from Congress to extend these enhanced subsidies, many enrollees may face out-of-pocket premium increases of over 75%, transforming healthcare affordability into a critical issue for millions. Click here to learn more
Henry Schein employees handling an inheritance should weigh the emotional cost of their legacy against the financial gain. A financial advisor like The Retirement Group can help align such large assets with long-term retirement and investment goals so decisions today reflect past and future needs.
Getting an inheritance means much more than just receiving money. It is an opportunity to protect your family financially. We advise Henry Schein employees to review their financial plans now so that their inheritance fits into their existing strategy and enhances their future prospects, according to The Retirement Group advisors.
We will discuss: 'In this article:
1. The Legal & Tax Implications: Understanding inheritance laws and the need to consult with legal and tax professionals is important.
2. Emotional and Strategic Financial Planning: Emotional aspects of receiving an inheritance must be balanced against strategic financial planning for the long term.
3. Retirement and Wealth Management: Assessing the impact that an inheritance may have on retirement plans and wealth management in general, with an eye toward Henry Schein employees.
Heirloom wealth may be a curse or a blessing. Even if you suspect a relative has planned to include you in their will, you may have overlooked some other aspects of the inheritance process. Here are some considerations if the event does occur.
Ask a lawyer or tax expert before making any decisions about inheritance—this is informational only and not a substitute for real advice.
Take your time. If someone cared enough about you to leave you an inheritance, you may need time to mourn their death. This is vital, but most of the bigger decisions regarding your inheritance will probably wait. Sometime later you may be better able to make decisions. Neh, don't go it alone. So many laws, options and dangers exist that an expert may be necessary.
Consider your own family. An inheritance may change one's own financial strategy. Make sure you consider this.
A tax collector could come to visit. The tax consequences if you inherited an IRA are important. Distributions to non-spouse beneficiaries are required by the end of the tenth calendar year following the year of death of the account owner under the SECURE Act.
The new rule also does not require the non-spouse beneficiary to withdraw funds within 10 years, as I have learned as a Henry Schein employee. The money must be withdrawn by the end of the tenth calendar year following the inheritance, however. Others may include the surviving spouse of the IRA owner, disabled or chronically ill individuals, people no older than the IRA owner and minor offspring of the IRA owner.
Stay informed. The estate laws have changed many times since you thought they were the same.
Keep in mind what you should be doing in your situation. The sentiment is understandable—you may want to leave your inheritance as it is out of respect for your relative. What if the inheritance is not right for your situation now? A financial professional can help you decide whether the inheritance meets your objectives, time horizon, and risk tolerance.
Added Fact:
A study by Merrill Lynch in 2021 suggests Henry Schein employees handling an inheritance should consider the impact on their retirement plans. Of those who received an inheritance, 42% said it affected their retirement timeline, the study found. Some retired earlier than expected and some worked longer to cash in on the inheritance. That insight illustrates why Henry Schein employees considering retirement should consider how an inheritance might affect their financial goals, lifestyle decisions, and overall retirement strategy. An integrated approach combining the inheritance and long-term retirement plans may help with informed decision-making.
Added Analogy:
Managing an inheritance as a Henry Schein employee feels like receiving an heirloom—an extremely sentimental piece. Like you would handle such an heirloom carefully, you should handle your inheritance strategically as well. Think about holding that heirloom and realizing its significance in your life and in your family history. As you would consult experts on art preservation to determine its true value and to ensure its long-term preservation, you should also consult lawyers, tax, and financial professionals about how to manage your inheritance. Consider your inheritance a treasure—honor the past while making sound financial decisions for the future. Like an heirloom that tells generations of stories, your inheritance should be a part of your overall wealth management strategy that will live on indefinitely.
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- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
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Sources:
1. Senior Strong 'Understanding Inheritance Tax Impact on Retirees.' Senior Strong , 2023, www.seniorstrong.org . Accessed 24 Feb 2025.
2.Accounting Insights 'Managing Your Inheritance: Strategic Financial Planning Guide.' Accounting Insights , AccountingInsights Team, 2023, www.accountinginsights.org . Accessed 24 Feb 2025.
3. Kiplinger Waggoner, John. 'Don’t Count on an Inheritance for Your Retirement Plan.' Kiplinger , 27 Jan 2025, www.kiplinger.com . Accessed 24 Feb 2025.
4. CreditBrite 'How to Navigate Retirement Planning After Inheriting Assets.' CreditBrite , 2023, www.creditbrite.com . Accessed 24 Feb 2025.
5. Kiplinger’s Free E-Newsletters 'Investing, Taxes, Retirement.' Kiplinger’s Free E-Newsletters , 2025, www.kiplinger.com . Accessed 24 Feb 2025.
What is the purpose of the 401(k) plan offered by Henry Schein?
The purpose of the 401(k) plan offered by Henry Schein is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.
How can employees enroll in the Henry Schein 401(k) plan?
Employees can enroll in the Henry Schein 401(k) plan by completing the enrollment process through the company’s HR portal or by contacting the HR department for assistance.
What types of contributions can employees make to the Henry Schein 401(k) plan?
Employees can make pre-tax contributions, Roth (after-tax) contributions, and potentially catch-up contributions if they are age 50 or older in the Henry Schein 401(k) plan.
Does Henry Schein offer any matching contributions to the 401(k) plan?
Yes, Henry Schein offers a matching contribution to the 401(k) plan, which helps employees boost their retirement savings.
What is the vesting schedule for the Henry Schein 401(k) matching contributions?
The vesting schedule for Henry Schein’s matching contributions typically follows a graded vesting schedule, which means employees earn ownership of the contributions over a specified period.
Can employees take loans against their 401(k) balance at Henry Schein?
Yes, employees may have the option to take loans against their 401(k) balance at Henry Schein, subject to the plan's terms and conditions.
What investment options are available in the Henry Schein 401(k) plan?
The Henry Schein 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock, allowing employees to diversify their portfolios.
How often can employees change their contribution amounts in the Henry Schein 401(k) plan?
Employees can typically change their contribution amounts in the Henry Schein 401(k) plan on a quarterly basis or as specified by the plan’s rules.
What happens to the 401(k) plan if an employee leaves Henry Schein?
If an employee leaves Henry Schein, they have several options for their 401(k) plan, including rolling it over to another retirement account, cashing it out (subject to taxes and penalties), or leaving it in the Henry Schein plan if allowed.
Are there any fees associated with the Henry Schein 401(k) plan?
Yes, there may be administrative fees and investment-related fees associated with the Henry Schein 401(k) plan, which are disclosed in the plan documents.
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