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Bright Health Group Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: Bright Health provides two medical plans through Blue Cross Blue Shield, along with dental, vision, HSAs/FSAs, and wellness stipends 2. With ACA premiums projected to increase by 1518%, Bright Healths internal plans may help employees avoid steep out-of-pocket costs in the individual market. Click here to learn more

'To allay long-term financial concerns, Bright Health Group employees may benefit from a comprehensive retirement strategy that addresses inflation, health care costs, and tax planning.' – Michael Corgiat, a representative of The Retirement Group, a division of Wealth Enhancement.

'Proactive retirement planning—especially around inflation, health care, and shifting tax policies—can help Bright Health Group employees gain clarity and reduce uncertainty in the years leading up to retirement.' – Brent Wolf, a representative of The Retirement Group, a division of Wealth Enhancement.

In this article we will discuss:

Key causes of retirement anxiety, including inflation, health care, and taxes.
Generational differences in money concerns and readiness.
The value of broad retirement planning approaches.

Retirement Anxiety is On The Rise

Employees across industries, including those at Bright Health Group, have long worried about how they will fund retirement. These concerns have grown considerably in today’s economy. Nearly two out of three Americans (64%) said they worry more about outliving their resources than they do about dying, according to the Allianz Center for the Future of Retirement’s 2025 Annual Retirement Study. ¹

Main Causes of Retirement-Related Worry

The Allianz study lists several key triggers of these fears. Regarding long-term planning, 54% of respondents said inflation was their top worry. Increases in health care costs, housing, and food prices are still undermining people’s purchasing power.

Concerns around Social Security’s future and tax burdens are also high. 43% said they feared Social Security might not offer adequate support. And another 43% named high taxes as a major issue.

Generational Gaps in Money Stress

Gen X—often balancing care for both kids and aging parents—report the highest worry: 70% versus 66% of millennials and 61% of boomers. Among corporate workers, including those at Bright Health Group, this dynamic underlines how family obligations can magnify retirement concerns.

The Gap Between Worry and Action

The survey shows a gap between concern and conversation: just 23% of respondents have talked about outliving their assets with a retirement specialist, down from 28% in 2024. ² That said, Americans are considering several strategies to allay these fears, ranking the following approaches as most helpful:

41% said cutting current spending to funnel more toward retirement 
44% said increasing retirement contributions 
39% said postponing retirement
While increasing contributions to retirement accounts could help address these concerns, barriers remain: daily necessities (63%), credit card debt (40%), mortgage or rent (35%) were top reasons people weren’t contributing more.

The Emotional Side of Retirement Anxiety

Retirement fears influence not just finances, but lifestyle, career choices, and family planning. Worries about independence, dignity, and quality of life often accompany fear of running short on funds.

Health care need are often underestimated too, complicating the equation. Medicare covers many basic services, but long‑term care, home assistance, and uncovered treatments can add large bills—adding uncertainty even for high‑income employees.

Broader Retirement Planning Matters

The Allianz findings emphasize planning well beyond just saving. With people living 25 to 30 years post‑work, a solid planning mindset is critical. As Kelly LaVigne, VP at Allianz Life, noted, “Americans areliving longer… your money needs to go farther. A good plan considers 25 to 30 years of retirement, not just the first ten.” ²

Key components often include:

Income strategies: setting up regular monthly disbursements from assets
Tax planning: reducing tax burdens on withdrawals
Health care planning: factoring in Medicare gaps and long‑term care
Inflation alignment: keeping income responsive to cost increases

Combined, these strategies can help build resilience, confidence, and preparedness even in uncertain times.

In Conclusion

The 2025 Allianz Retirement Study makes it clear: a majority of Americans—and Bright Health Group employees among them—see the threat of running out of money as more frightening than death. Rising inflation, health care spending, and uncertainty around Social Security are central drivers. Fewer are taking direct action through planning conversations or boosted contributions.

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Yet there is opportunity. The IRS now permits catch‑up 401(k) contributions of up to $11,250 for those aged 60–63 in 2025—above the standard limit. For many, this is a practical way to fortify resources in those final working years.

A Final Thought

Think of retirement like a long sea voyage. Death may be the storm ahead, but empty savings are the leak that can sink the ship first. According to the Allianz study, 64% of Americans fear that leak more than the storm. For Bright Health Group employees, the goal is to build a well-structured plan—with consistent income, planning for health costs, and tax awareness—that can keep the vessel afloat for the long haul.

Sources:

1. Allianz Life Insurance Company of North America, ' How Americans feel about retirement in 2025 ,' by the Allianz Center for the Future of Retirement ^TM , June 2025.

2. businesswire, ' Americans Are More Worried About Running Out of Money Than Death ,' April 22, 2025.

What type of retirement plan does Bright Health Group offer to its employees?

Bright Health Group offers a 401(k) retirement savings plan to its employees.

Does Bright Health Group match employee contributions to the 401(k) plan?

Yes, Bright Health Group provides a matching contribution to employee 401(k) plan contributions, subject to certain limits.

What is the eligibility requirement for employees to participate in Bright Health Group's 401(k) plan?

Employees of Bright Health Group are eligible to participate in the 401(k) plan after completing a specified period of service, typically within the first year of employment.

How can employees at Bright Health Group enroll in the 401(k) plan?

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

What investment options are available in Bright Health Group's 401(k) plan?

Bright Health Group offers a variety of investment options within its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.

Can employees at Bright Health Group take loans against their 401(k) savings?

Yes, Bright Health Group allows employees to take loans against their 401(k) savings, subject to the plan's terms and conditions.

What is the vesting schedule for employer contributions at Bright Health Group?

The vesting schedule for employer contributions at Bright Health Group typically follows a graded vesting schedule, which means employees earn ownership of employer contributions over time.

How often can employees at Bright Health Group change their 401(k) contribution amounts?

Employees at Bright Health Group can change their 401(k) contribution amounts at any time, subject to the plan's guidelines.

Does Bright Health Group provide financial education resources for employees regarding their 401(k) plan?

Yes, Bright Health Group offers financial education resources and workshops to help employees understand their 401(k) plan and make informed investment decisions.

What happens to an employee's 401(k) balance if they leave Bright Health Group?

If an employee leaves Bright Health Group, they have several options for their 401(k) balance, including rolling it over to another retirement account, leaving it in the plan, or cashing it out.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.

Bright Health Group announced a major restructuring plan, which includes significant layoffs and changes to their employee benefits. The company is focusing on streamlining operations to address financial challenges.

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For more information you can reach the plan administrator for Bright Health Group at 219 N 2nd St #401 Minneapolis, MN 55401; or by calling them at +1 833-356-1182.