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Rite Aid Employees Confront the Fear of Running Out of Money in Retirement

Healthcare Provider Update: Healthcare Provider for Rite Aid Rite Aid employees typically have access to healthcare plans through various insurers, but specific carriers may vary based on the location and plan offerings. Major insurers such as UnitedHealthcare, Aetna, and others often provide coverage options for Rite Aid employees, making it advisable for them to review the available plans and select one that best fits their healthcare needs. Potential Healthcare Cost Increases in 2026 As we head into 2026, Rite Aid employees may face significant increases in healthcare costs due to projected sharp hikes in health insurance premiums. Without the renewal of enhanced federal subsidies, many enrollees in the ACA marketplace could see their out-of-pocket costs rise by over 75%, particularly as some states report premium increases exceeding 60%. Amid rising medical costs driven by factors such as high prices for medications and ongoing pressure from insurers to adjust benefit structures, employees will need to carefully assess their coverage options to mitigate the financial impact and ensure continued access to necessary healthcare. Click here to learn more

'To allay long-term financial concerns, Rite Aid 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 Rite Aid 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 Rite Aid, 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 Rite Aid, 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 Rite Aid 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 Rite Aid 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 is the purpose of Rite Aid's 401(k) Savings Plan?

The purpose of Rite Aid's 401(k) Savings Plan is to help employees save for retirement by allowing them to contribute a portion of their salary on a pre-tax basis.

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

Rite Aid employees can enroll in the 401(k) Savings Plan by accessing the company’s benefits portal or contacting the HR department for guidance on the enrollment process.

Does Rite Aid offer a company match for contributions to the 401(k) Savings Plan?

Yes, Rite Aid offers a company match for contributions to the 401(k) Savings Plan, helping employees maximize their retirement savings.

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

Rite Aid's 401(k) Savings Plan typically offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to suit different risk tolerances.

At what age can Rite Aid employees start withdrawing from their 401(k) Savings Plan without penalties?

Rite Aid employees can start withdrawing from their 401(k) Savings Plan without penalties at age 59½, provided they meet other plan requirements.

Can Rite Aid employees take loans against their 401(k) Savings Plan?

Yes, Rite Aid employees may have the option to take loans against their 401(k) Savings Plan, subject to the plan's specific terms and conditions.

How often can Rite Aid employees change their contribution percentage to the 401(k) Savings Plan?

Rite Aid employees can typically change their contribution percentage to the 401(k) Savings Plan at any time, but there may be specific enrollment periods or guidelines to follow.

What happens to Rite Aid employees' 401(k) Savings Plan if they leave the company?

If Rite Aid employees leave the company, they have several options for their 401(k) Savings Plan, including rolling it over to an IRA or another employer's plan, or cashing it out (which may incur taxes and penalties).

Is there a vesting schedule for Rite Aid's 401(k) Savings Plan?

Yes, Rite Aid's 401(k) Savings Plan may have a vesting schedule for employer contributions, meaning employees must work for the company for a certain period before they fully own those contributions.

How can Rite Aid employees access their 401(k) Savings Plan account information?

Rite Aid employees can access their 401(k) Savings Plan account information through the company's benefits portal or by contacting the plan administrator.