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H&R Block Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: H&R Block's Healthcare Provider and Cost Increase Overview Healthcare Provider: H&R Block employees typically rely on major insurance carriers for their health benefits, though specific providers may vary by location. Generally, the company integrates offerings from national insurers such as UnitedHealthcare, Anthem Blue Cross Blue Shield, and others to provide comprehensive medical, dental, and vision coverage. Healthcare Cost Increases in 2026: As 2026 approaches, H&R Block employees may face significant increases in healthcare costs, primarily driven by anticipated record hikes in ACA marketplace premiums. With reports indicating potential rate increases exceeding 60% in some states and an overall expected rise of 18%, many employees could see out-of-pocket expenses swell substantially-by as much as 75% for those losing enhanced federal subsidies. This surge in healthcare expenses underscores the pressing need for H&R Block workers to review their benefits and explore strategic options, such as optimizing Health Savings Accounts (HSAs), to mitigate personal financial impacts. Click here to learn more

'To allay long-term financial concerns, H&R Block 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 H&R Block 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 H&R Block, 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 H&R Block, 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 H&R Block 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 H&R Block 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.

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

H&R Block Pension Plan: Name of Pension Plan: Look for official H&R Block documents or reports from 2022, 2023, and 2024 to identify the name of the pension plan. Years of Service and Age Qualification: Search for criteria related to eligibility, which often include years of service and age. Pension Formula: Find specific details on how the pension benefit is calculated. H&R Block 401(k) Plan: Name of 401(k) Plan: Identify the specific 401(k) plan name from H&R Block’s reports or plan documents. Eligibility: Determine who qualifies for participation in the 401(k) plan.

Restructuring and Layoffs: In early 2024, H&R Block announced a major restructuring plan aimed at streamlining operations and improving efficiency. This move included a reduction in workforce, affecting around 200 positions across various departments. The company stated that the decision was driven by the need to adapt to the evolving tax services market and to invest in digital solutions. This restructuring is significant due to the current economic environment, which is characterized by uncertainty and rapid technological changes, impacting job security and company strategies.

H&R Block Stock Options (2022-2024): 2022: H&R Block provided stock options to senior executives and key employees as part of their incentive programs. Stock options were available primarily to those in leadership roles and high-impact positions within the company. 2023: In 2023, H&R Block continued to offer stock options, with an emphasis on aligning employee interests with company performance. Options were granted based on performance targets and tenure. 2024: H&R Block maintained its stock option program, with updates to align with market conditions and internal performance metrics. Eligibility remained focused on senior leadership and strategic contributors.

H&R Block Official Site: hrblock.com Health Benefits: H&R Block offers a range of health benefits including medical, dental, and vision insurance. The company provides options for both in-network and out-of-network care, with varying levels of coverage depending on the plan. They also offer Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs) to help employees manage out-of-pocket expenses. Glassdoor Glassdoor: glassdoor.com Employee Reviews: According to employee reviews on Glassdoor, H&R Block provides competitive health benefits, including comprehensive medical insurance plans, dental, and vision coverage. The benefits are generally rated positively by employees, with specific praise for the company’s supportive health programs and wellness initiatives. Indeed Indeed: indeed.com Health Benefits: Reviews on Indeed confirm that H&R Block's health benefits include medical, dental, and vision insurance. The company also offers wellness programs and has received feedback about the effectiveness of their health benefits in supporting employee well-being. LinkedIn LinkedIn: linkedin.com Company Profile: H&R Block’s LinkedIn page mentions that the company provides a comprehensive benefits package including healthcare, wellness programs, and retirement plans. Specific details are not always available, but the general sentiment is positive regarding their health benefits. Benefits Guide Benefits Guide: benefitsguide.com Recent Updates: For 2023 and 2024, H&R Block has updated its health benefits offerings to include enhanced telehealth services and mental health resources. There is a focus on providing better access to mental health professionals and expanded telemedicine options as part of their overall healthcare strategy.

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For more information you can reach the plan administrator for H&R Block at , ; or by calling them at .

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