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Healthcare Provider Update: Watsco offers a comprehensive benefits program that includes medical, dental, vision, life, and disability insurance. Employees receive cash incentives for completing wellness assessments and have access to Teladoc for 24/7 virtual care. The company also provides a 401(k) plan with matching contributions and an Employee Stock Purchase Plan 7. Healthcare costs in the United States are projected to continue rising through 2026, with insurers proposing significant premium increases for Affordable Care Act (ACA) plans. A recent analysis found that ACA insurers are seeking a median premium increase of 15% for 2026, marking the largest hike since 2018. This surge is attributed to factors such as the anticipated expiration of enhanced premium tax credits, rising medical costsincluding expensive medications and increased hospital staysand a shift in the risk pool towards higher-cost enrollees. Without the renewal of enhanced subsidies, out-of-pocket premiums for ACA marketplace enrollees could increase by more than 75% on average. Click here to learn more
As a Watsco 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.' |
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As a Watsco 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 Watsco 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 primary purpose of Watsco's 401(k) plan?
The primary purpose of Watsco's 401(k) 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 Watsco employees enroll in the 401(k) plan?
Watsco employees can enroll in the 401(k) plan by completing the enrollment process through the company's HR portal or by contacting the HR department for assistance.
Does Watsco offer a company match for 401(k) contributions?
Yes, Watsco offers a company match for 401(k) contributions, which helps employees maximize their retirement savings.
What is the maximum contribution limit for Watsco's 401(k) plan?
The maximum contribution limit for Watsco's 401(k) plan is determined by the IRS and may change annually; employees should check the latest guidelines for the current limit.
Can Watsco employees change their contribution percentage at any time?
Yes, Watsco employees can change their contribution percentage at any time, typically through the HR portal or by submitting a request to HR.
What investment options are available in Watsco's 401(k) plan?
Watsco's 401(k) plan offers a variety of investment options, including mutual funds, stocks, and bonds, allowing employees to diversify their portfolios.
Is there a vesting schedule for Watsco's 401(k) company match?
Yes, Watsco has a vesting schedule for the company match, which means employees must work for a certain period before they fully own the matched contributions.
How can Watsco employees access their 401(k) account information?
Watsco employees can access their 401(k) account information through the online portal provided by the plan administrator.
What happens to a Watsco employee's 401(k) if they leave the company?
If a Watsco employee leaves the company, they have several options for their 401(k), including rolling it over to another retirement account, cashing it out, or leaving it with Watsco.
Are there any fees associated with Watsco's 401(k) plan?
Yes, there may be fees associated with Watsco's 401(k) plan, which can include administrative fees and investment management fees. Employees should review the plan documents for details.
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