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

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Navigating Inflation: Essential Insights for Maximus Employees to Safeguard Their Retirement Plans

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Healthcare Provider Update: Maximus, known for its administration of government health programs, primarily collaborates with state and federal health services. It provides administrative services for Medicaid, Medicare, and health care reform initiatives, which play a critical role in ensuring access to healthcare coverage for millions. Looking ahead to 2026, healthcare costs are anticipated to surge, significantly impacting consumers reliant on the Affordable Care Act (ACA) marketplace. As many states prepare for premium increases that could reach as high as 66%, the expiration of enhanced federal subsidies is expected to exacerbate financial burdens for enrollees, with nearly 92% of them facing potential out-of-pocket premium hikes exceeding 75%. This combination of factors is creating a challenging landscape for healthcare affordability, compelling individuals to take proactive steps in managing their healthcare expenditures. Click here to learn more

As a Maximus employee earning a good wage, remember when everyday products were much cheaper than they are now? That's a real-life example of inflation, an unavoidable phenomenon that erodes the value of money by pushing prices up over time. If capital isn't being put to work and making a return during inflationary periods, the purchasing power of investor capital is declining.

 

'If capital isn't being put to work and making a return during inflationary periods, the purchasing power of investor capital is declining.' woman signing on white printer paper beside woman about to touch the documents

 


As a Maximus employee interested in investing, it is important to consider how investors have a wide range of tools at their disposal to protect their portfolios from inflation. Some prefer inflation-protected bonds, while others swear by commodities such as gold as effective inflation hedges. Investing in stocks has historically been one of the best ways to offset, or even outpace, inflation's degenerative effects on one's savings. For Maximus employees, it is important to account for this information when planning your finances as to create a portfolio that minimizes volatility and accounts for inflation.

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We still have a tremendous amount of interest from advisors looking into commodity funds, ETFs and other inflation protection instruments to protect against potential inflation.

What is the 401(k) plan offered by Maximus?

The 401(k) plan offered by Maximus is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

How can I enroll in the Maximus 401(k) plan?

You can enroll in the Maximus 401(k) plan by completing the enrollment form available through the HR portal or by contacting the HR department for assistance.

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

Yes, Maximus offers a matching contribution to employee 401(k) plans, which helps to enhance your retirement savings.

What is the maximum contribution limit for the Maximus 401(k) plan?

The maximum contribution limit for the Maximus 401(k) plan is set annually by the IRS, and you can check the latest limits on the IRS website or through Maximus’s HR resources.

Can I change my contribution percentage to the Maximus 401(k) plan?

Yes, you can change your contribution percentage to the Maximus 401(k) plan at any time by submitting a request through the HR portal.

When can I start withdrawing from my Maximus 401(k) plan?

You can start withdrawing from your Maximus 401(k) plan at age 59½, or earlier under certain circumstances such as financial hardship.

Are there any fees associated with the Maximus 401(k) plan?

Yes, there may be administrative fees associated with the Maximus 401(k) plan, which are outlined in the plan documents provided to employees.

Does Maximus provide investment options within the 401(k) plan?

Yes, Maximus provides a variety of investment options within the 401(k) plan, allowing employees to choose based on their risk tolerance and retirement goals.

How often can I change my investment allocations in the Maximus 401(k) plan?

Employees can change their investment allocations in the Maximus 401(k) plan as often as they wish, subject to the plan's guidelines.

What happens to my Maximus 401(k) plan if I leave the company?

If you leave Maximus, you have several options regarding your 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it with Maximus.

With the current political climate we are in it is important to keep up with current news and remain knowledgeable about your benefits.
Plan Name: Maximus Pension Plan Years of Service and Age Qualification: Employees are generally eligible for the Maximus Pension Plan after completing 5 years of service and reaching age 65. Pension Formula: The pension is calculated based on a formula that includes years of service and average compensation. Specifics are detailed in the plan document. Plan Name: Maximus 401(k) Plan Who Qualifies: All full-time employees are eligible to participate in the Maximus 401(k) Plan after completing 30 days of service. 401(k) Details: Employees can contribute a percentage of their salary, with the company offering a matching contribution up to 4%.
In response to decreased demand for its services and the need to streamline operations, Maximus announced a plan to cut approximately 1,000 positions globally. This move is part of a broader strategy to reduce costs and enhance operational efficiency. The layoffs are expected to impact various departments, including customer support and IT services.
Maximus offers stock options and RSUs to its employees as part of its compensation package. These are typically available to senior management and key employees based on performance and tenure. The specific types of stock options and RSUs include non-qualified stock options (NSOs) and time-vested RSUs.
2023: Maximus has been actively expanding its mental health and telehealth services as part of its benefits package. There has been an increased emphasis on comprehensive care that includes mental health support and preventive services. 2024: The company has introduced new wellness initiatives, including more flexible health plans and enhanced coverage options for chronic conditions
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For more information you can reach the plan administrator for Maximus at , ; or by calling them at .

https://www.thelayoff.com/#google_vignette https://www.sec.gov/ https://www.pbgc.gov/ https://www.benefitspro.com/?slreturn=20240819130635 http://pension360.org/ https://www.thelayoff.com/ https://finance.yahoo.com/ https://www.marketwatch.com/

*Please see disclaimer for more information

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